SHFE Copper Trades up 0.51% (Oct. 22, 2015)

SHANGHAI, Oct. 22 (SMM) – SHFE 1512 copper opened at RMB 13,180/mt for night trading Wednesday and lurched down to RMB 13,030/mt. Later, the contract advanced to RMB 13,255/mt thanks to position closures by shorts before closing at RMB 13,190/mt, down by RMB 190/mt or 1.42%. Trading volumes grew 850 to 6,442 lots but positions fell 366 to 15,196.

SHFE copper fluctuated above RMB 39,000/mt on Thursday and ranged between RMB 39,060-39,220/mt. Then the red metal touched a high of RMB 39,420/mt due to position closures by shorts on Chinese stock rally and closed at RMB 39,270/mt, up by RMB 200/mt or 0.51%. Positions fell 8,054 and trading volumes were up 30,000 to around 500,000 lots.