SHANGHAI, Jun. 24 (SMM) – The most active SHFE copper contract opened at RMB 41,890/mt Tuesday night and grew rapidly to RMB 42,150/mt before ending the session at RMB 42,020/mt, up RMB 160/mt.
SHFE 1508 copper contract prices managed to hold above RMB 41,900/mt and touched RMB 42,290/mt before ending the daytime trading at RMB 42,190/mt, up RMB 330/mt. Positions of the most active copper contract fell by 11,464, while SHFE 1509 copper contract positions increased 18,922. The August-delivery copper is still under resistance from the 10-day moving average.