SHANGHAI, Jun. 11 (SMM) – SHFE 1508 copper contract prices gapped higher at RMB 43,630/mt Wednesday night and fell back after rising to RMB 43,760/mt. The prices fell to RMB 43,470/mt before ending at RMB 43,620/mt, up RMB 250/mt.
August-delivery SHFE copper contract remained stable early Thursday and started falling in the afternoon to hit RMB 43,160/mt. The prices closed at RMB 43,230/mt for the daytime trading, down RMB 140/mt. Trading volumes increased 30,452 lots and positions were down 4,576. Prices still face downside risk.