SHFE Copper Plummets RMB 2,170/mt at RMB 41,190/mt (Jan. 14, 2015)

SHANGHAI, Jan. 14 (SMM) – Copper for March delivery on the Shanghai Futures Exchange, the most active contract, swung by less than RMB 200/mt after starting Tuesday’s night session at RMB 42,300/mt. The price of the SHFE 1503 copper contract closed down RMB 800/mt at RMB 42,560/mt. During the night session, trading volumes for the most active contract rose to over 210,000 lots, while positions shed by 8,836.

SHFE copper plunged in tandem with LME copper to finish down RMB 2,170/mt, or 5% at RMB 41,190/mt. Trading volumes for the most active contract gained by 4,466 lots, while positions decreased by 5,862.