SHANGHAI, Jan. 9 (SMM) – Copper for March delivery on the Shanghai Futures Exchange, the most active contract, dipped to RMB 44,450/mt in Thursday’s night session after starting at RMB 45,000/mt and closed down RMB 240/mt at RMB 44,500/mt. During the night session, trading volumes edged up to some 150,000 lots, while positions gained by 7,434.

SHFE copper hovered around RMB 44,500/mt early on Friday, but fell by the midday to close down RMB 490/mt, or 1.1%, at an intraday low of RMB 44,250/mt. Trading volumes for the most active contract added by 176,000 lots, while positions increased by 10,670. Trading volumes for the SHFE 1504 copper contract increased by 85,058 lots, while positions rose by 16,292.