SHANGHAI, Oct. 26 (SMM) – SHFE 1512 copper opened at RMB 39,600/mt last Friday night with LME copper falling from highs and drifted lower to RMB 38,800/mt, to end at RMB 39,020/mt, down RMB 470/mt or 1.19%. Positions dropped 7,004 to 226,794 and trading volumes were around 360,850 lots.
SHFE copper met resistance at RMB 39,120/mt on Monday and once shot up to RMB 39,670/mt, to close at RMB 39,060/mt, down RMB 430/mt or 1.09%. Positions declined 12,082 to 221,716 and trading volumes were around 660,000 lots. Positions of SHFE 1601 nickel grew 11,492 to 169,264.