SHFE 1507 Copper Gains RMB 430/mt (May 6, 2015)

SHANGHAI, May 6 (SMM) – SHFE 1507 copper contract prices started higher at RMB 45,850/mt Tuesday night and touched a high of RMB 46,360/mt, But the July-delivery copper fell slightly later with longs exiting the market and ended the session at RMB 46,060/mt, up RMB 360/mt, or 0.79%.

The July-delivery copper did not show significant change Wednesday morning, but started rising in the afternoon, climbing above RMB 46,000/mt. The prices then fell slightly at the tail of trading and ended at RMB 43,130/mt, up RMB 430/mt. Trading volumes in the most active contract grew 181,000 lots and positions fell 18,034. However, the red metal increased more slowly than other base metals.