SHANGHAI, Mar. 12 (SMM) – SHFE most active copper contract remained stable early Thursday, but rose quickly in the afternoon to a high of RMB 42,610/mt, and ended the daytime trading at RMB 42,560/mt, up RMB 460/mt. Positions declined 4,936, and trading volumes 147,000 lots. Copper prices only fell slightly even after crude oil slumped and the US dollar continued to strengthen.
SHFE most-active copper contract opened at RMB 42,040/mt for Wednesday’s night session and climbed to RMB 42,240/mt briefly. The prices then fell to RMB 41,800/mt dragged by the strong US dollar and ended at RMB 41,850/mt, down RMB 250/mt. Positions in the May delivery copper increased 7,992, and trading volumes were 224,790 lots.
