SHFE Copper Falls RMB 740/mt (Aug. 24, 2015)​-Shanghai Metals Market

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SHFE Copper Falls RMB 740/mt (Aug. 24, 2015)​

Price Review & Forecast 04:58:45PM Aug 24, 2015 Source:SMM

SHANGHAI, Aug. 24 (SMM) – SHFE 1510 copper contract started at RMB 38,810/mt for night trading last Friday, and fell back to RMB 38,630/mt after rising to RMB 38,950/mt. The most active copper contract closed at RMB 38,830/mt. Positions declined 3,132, and trading volumes were around 145,000 lots.

LME copper started with a negative gap on Monday. This, combined with the plunge of 9% in China stock market, weighed SHFE copper to RMB 37,650/mt. Later, Chinese stocks stopped falling and thus drop in SHFE copper also slowed, to close the day at RMB 38,280/mt, down RMB 740/mt or 1.9%. Trading volumes of SHFE 1510 copper were up 336,000 lots and positions jumped 11,796. Trading volumes of SHFE 1511 copper grew 190,000 lots and positions rose 16,936.


SHFE Copper Falls RMB 740/mt (Aug. 24, 2015)​

Price Review & Forecast 04:58:45PM Aug 24, 2015 Source:SMM

SHANGHAI, Aug. 24 (SMM) – SHFE 1510 copper contract started at RMB 38,810/mt for night trading last Friday, and fell back to RMB 38,630/mt after rising to RMB 38,950/mt. The most active copper contract closed at RMB 38,830/mt. Positions declined 3,132, and trading volumes were around 145,000 lots.

LME copper started with a negative gap on Monday. This, combined with the plunge of 9% in China stock market, weighed SHFE copper to RMB 37,650/mt. Later, Chinese stocks stopped falling and thus drop in SHFE copper also slowed, to close the day at RMB 38,280/mt, down RMB 740/mt or 1.9%. Trading volumes of SHFE 1510 copper were up 336,000 lots and positions jumped 11,796. Trading volumes of SHFE 1511 copper grew 190,000 lots and positions rose 16,936.