[Cu Price] SHFE Copper Breaks down below RMB 38,000/mt (Aug. 3, 2015)

SHANGHAI, Aug. 3 (SMM) – SHFE 1510 copper contract started at RMB 38,350/mt for night session last Friday and rose to RMB 38,680/mt before a pullback to RMB 38,200/mt. The most active copper contract finished the session at RMB 38,240/mt, losing RMB 140/mt. Positions in the most active copper contract increased 8,372, and trading volumes were about 185,000 lots.

SHFE copper touched RMB 38,350/mt on Monday morning but then fell below RMB 38,000/mt. The price dipped to RMB 37,810/mt near session’s end, to close down RMB 510/mt or 1.33% at RMB 37,870/mt. Trading volumes grew 154,000 lots and positions were up 32,532.