SHANGHAI, Jun. 30 (SMM) – SHFE 1509 copper contract opened at RMB 41,950/mt and dipped to RMB 41,560/mt. Later, the prices were driven up with shorts exiting the market and touched a high of RMB 42,200/mt. The September-delivery copper ended the session at RMB 42,000/mt, down by RMB 210/mt.
SHFE 1509 copper contract prices hovered near RMB 42,000/mt Wednesday morning. In the afternoon, the September-delivery copper rose to RMB 42,300/mt but then came across resistance and fell back to RMB 41,950/mt before ending at RMB 41,970/mt, down by RMB 240/mt. Trading volumes of the most active SHFE copper contract increased 65,336 lots and positions declined 8,292.