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Chinese stock market headed for stability on Tuesday and thus SHFE copper opened slightly higher. But with the negative reading of China’s import and export data for August and a drop in Chinese stock market, SHFE copper refreshed a new low at RMB 39,210/mt. However, the red metal followed Chinese stock market to rally later before ending at an intra-day high of RMB 39,530/mt, gaining RMB 270/mt or 0.69%. Positions saw a rise of 7,608 to 221,486 and trading volumes increased 134,000 lots.
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