SHANGHAI, Apr. 15 (SMM) –SHFE 1506 copper contract opened at RMB 42,760/mt during night session Tuesday, and hit a low of RMB 42,570/mt. The prices then rallied but met resistance at RMB 43,180/mt before ending at RMB 42,960/mt, down by RMB 200/mt. Positions in the most active contract declined 982 and trading volumes grew to about 200,000 lots.
The most active SHFE copper contract touched a low of RMB 42,820/mt after opening on Wednesday and rallied to RMB 43,000/mt in the afternoon to end at the level, down RMB 160/mt.
SHFE 1504 copper contract closed at RMB 43,090/mt on its last trading day, with positions at 15,920. May-delivery copper ended at RMB 43,130/mt, with positions down 6,386 and trading volumes falling by 30,612 lots. Resistance at the overlapped 5, 10, and 20-day moving averages strengthened.