SHANGHAI, May 29 (SMM) –SHFE 1508 copper contract prices started at RMB 44,130/mt during the night session Thursday and ended at RMB 44,100/mt, down RMB 30/mt, with the high-end price at RMB 44,220/mt and session low at RMB 43,970/mt.
The August-delivery SHFE copper drifted higher at RMB 44,250/mt, and tested a high of RMB 44,320/mt. The prices then moved in a narrow range and closed at RMB 44,300/mt, up RMB 170/mt. SHFE 1508 copper positions grew 2,236, with trading volumes down 120,000 lots. Total SHFE copper positions fell by 20,482.