SHANGHAI, Apr. 28 (SMM) – SHFE 1507 copper contract started at RMB 43,740/mt during night session on Monday, and increased before meeting resistance at RMB 44,000/mt. The prices touched RMB 44,140/mt briefly but then fell back to end at RMB 43,940/mt, up RMB 270/mt. Positions in the most active contract increased 11,604 and trading volumes were about 160,000 lots.
The July-delivery SHFE copper dropped after starting Tuesday’s daytime trading, dipping to RMB 43,570/mt, but stabilized in the afternoon and hover around RMB 43,700/mt. The prices closed up RMB 70/mt at RMB 43,740/mt. Positions increased 26,780 and trading volumes fell by 5,814 lots.