SHANGHAI, Jul. 22 (SMM) – SHFE 1509 copper advanced to RMB 40,110/mt after opening Tuesday evening session at RMB 39,850/mt. But near the session’s end, the contract retreated all the gains to touch a low of RMB 39,800/mt and ended at RMB 39,850/mt, down RMB 130/mt. Positions grew 790 and trading volumes totaled 123,000 lots.
September copper on the SHFE dipped to this week’s low of RMB 39,070/mt during Wednesday trading session and closed the day at RMB 39,150/mt, slipping RMB 830/mt or 2.08%. Trading volumes of SHFE 1509 copper increased 69,858 lots with positions up 11,844. Trading volumes of SHFE 1510 copper jumped 69,992 lots and positions also increased 26,468.
SHFE 1510 copper is expected to shift to the most active contract this evening.