SHANGHAI, Jun. 29 (SMM) – SHFE 1509 copper contract opened at RMB 42,050/mt Friday night and tested a low of RMB 41,920/mt. The prices rose at the tail of trading and touched RMB 42,230/mt before ending at RMB 42,200/mt, up RMB 270/mt. SHFE 1509 copper contract positions grew 5,890.
SHFE 1509 copper contract prices rose above RMB 42,150/mt on Monday and touched RMB 42,620/mt before finishing at RMB 42,500/mt, rising by RMB 570/mt. SHFE 1509 copper contract positions decreased 2,486 and trading volumes increased 71,884 lots. The most active SHFE copper contract prices were between the 10 and 20-day moving averages. Capital will start flowing back to commodities market should stock market remain weak.