SHANGHAI, Aug. 19 (SMM) – The sharp fall in Chinese stock market triggered bearishness again on Tuesday. SHFE 1510 copper opened lower at RMB 38,700/mt for night trading Tuesday and then touched a low of RMB 38,140/mt before closing at RMB 38,570/mt, falling RMB 400/mt or 1.03%. Trading volumes decreased 1,032 lots and positions were about 284,000.
SHFE copper followed Chinese stocks to fluctuate on the weak side Wednesday. The contract hovered above RMB 38,470/mt and later advanced to RMB 38,780/mt thanks to Chinese stock rally, to close at RMB 38,750/mt, losing RMB 220/mt or 0.56%. Positions declined 5,438 to 216,376 while trading volumes were up 151,000.
SHFE 1511 copper contract ended the day at RMB 38,580/mt, down by RMB 210/mt. Positions saw a rise of 8,612 to 168,248.