SHANGHAI, May 26 (SMM) – SHFE 1507 copper contract prices started higher at RMB 44,760/mt for Monday’s night session and rose to RMB 45,060/mt as shorts closed positions. The prices stabilized later and finished the session with a 0.96% gain at RMB 45,060/mt.
The July-delivery SHFE copper stabilized around fell to RMB 44,800/mt early Tuesday and hovered near the RMB 44,950/mt in the afternoon before ending at RMB 44,520/mt, down RMB 110/mt with the session low at RMB 44,480/mt. The SHFE 1508 copper contract shifted to the new most-active contract in the afternoon and closed the daytime trading at RMB 44,400/mt, falling by RMB 140/mt. Positions of SHFE 1507 copper contract shrank 25,804 and trading volumes increased 38,000 lots. SHFE 1508 copper positions grew 29,280, with trading volumes up 89,016.