SHANGHAI, Jun. 15 (SMM) – LME copper prices increased to USD 5,916/mt and ended up USD 27/mt at USD 5,915/mt last Friday. Trading volumes declined sharply.
The US dollar index increased initially but pulled back later, allowing base metals to regain earlier losses.
SHFE 1508 copper contract prices opened at RMB 42,590/mt for night trading last Friday and moved around RMB 42,820/mt before closing at RMB 42,770/mt, up RMB 50/mt. Positions decreased 1,464 and trading volumes dropped to about 80,000 lots.
SHFE 1508 copper contract may trade at RMB 42,500-43,000/mt on June 15. Spot copper premiums should narrow to RMB 0-60/mt on the last trading day for SHFE 1506 copper contract.