SHFE 1508 Copper Falls by RMB 370/mt (Jun. 16, 2015)

SHANGHAI, Jun. 16 (SMM) –SHFE 1508 copper contract prices opened at RMB 42,120/mt for night trading Monday and closed down RMB 310/mt at RMB 42,210/mt regardless of a weaker dollar.

August-delivery SHFE copper contract stabilized during daytime trading Tuesday but was still under resistance from RMB 42,380/mt. Falling Chinese shares dragged prices down in the afternoon, and the most active SHFE copper contract ended at RMB 42,150/mt, down RMB 370/mt. Positions were slashed 3,254 lot, and trading volumes grew 8,262 lots.