SHANGHAI, Apr. 13 (SMM) – SHFE 1506 copper contract started at RMB 43,650/mt during Monday’s night session and soon dropped to end at RMB 43,360/mt, down by RMB 310/mt. Positions in the most active contract grew 2,126 and trading volumes were less than 100,000 lots.
The most active SHFE copper contract moved lower to RMB 43,300/mt after opening on Tuesday and followed LME copper down in the afternoon. The prices then dropped to RMB 42,580/mt after distant-month contract suffered selling pressure, and ended at RMB 42,860/mt, down RMB 810/mt. Positions in the most active contract increased 14,622, and trading volumes were up 48,452 lots. Markets are now waiting for economic releases from China.