SHANGHAI, Sept. 15 (SMM) – For night trading Monday, SHFE 1511 copper started lower at RMB 40,510/mt with LME copper falling below the 5 and 60-day moving averages overnight. November-delivery copper on the SHFE later advanced to RMB 40,690/mt before dipping to RMB 40,340/mt, to end the session down RMB 400/mt at RMB 40,470/mt. Positions decreased 5,266 to 199,938 and trading volumes were around 210,000 lots.
SHFE copper slid below RMB 40,550/mt on Tuesday due to weakness in Chinese stock market. Near the session’s end, the red metal touched an intra-day low of RMB 40,290/mt before closing at RMB 40,320/mt, down by RMB 550/mt. Positions declined 4,204 to 476,206 and trading volumes decreased 20,000 lots. Shorts grew slightly in market.
Today is the last trading day for SHFE 1509 copper. SHFE 1509 copper ended at RMB 40,280/mt, down RMB 700/mt with final settlement price at RMB 40,620/mt and positions at 9,970.