SHANGHAI, Apr. 2 (SMM) – SHFE 1506 copper contract opened at RMB 43,120/mt during night session Wednesday, and touched a low of RMB 43,030/mt. Later, the prices rose back to RMB 43,530/mt and ended the session at RMB 43,410/mt, up RMB 30/mt. Positions in the June delivery copper decreased 348, and trading volumes were around 250,000 lots.
The SHFE copper for June delivery hit resistance at RMB 43,600/mt twice after starting Thursday’s daytime trading and closed at RMB 43,520/mt, up RMB 140/mt. Positions in the most active contract decreased 9388, while trading volumes rose by 28,526 lots. Trading on London Metal Exchange will be closed Friday.