SHANGHAI, Apr. 22 (SMM) – SHFE 1506 copper contract started lower at RMB 43,180/mt during night session Tuesday, and stabilized at RMB 43,250/mt. The June-delivery copper closed at RMB 43,200/mt after touching a session-high of RMB 43,360/mt, down RMB 160/mt. Positions in the most active contract declined 100 and trading volumes were only about 80,000 lots.
The most active SHFE copper contract dipped to a low of RMB 43,080/mt after opening on Wednesday and increased to RMB 43,350/mt at midday. In the afternoon, the prices touched a high of RMB 43,430/mt helped by rallying stock market and ended down RMB 50/mt at RMB 43,310/mt. Trading volumes for the SHFE 1506 copper contract decreased 63,910 lots and positions dropped 10,270. Trading volumes of SHFE 1507 copper contract fell by 16,226 lots, while positions grew 10,558.