SHANGHAI, Nov. 5 (SMM) – SHFE 1601 copper started Wednesday night session at RMB 38,680/mt and moved higher to RMB 39,110/mt. Later, the contract dived to RMB 38,440/mt and ended at RMB 38,590/mt, up RMB 60/mt or 0.16%. Positions decreased 6,490 and trading volumes jumped to 250,000 lots.
Base metal prices did not get a boost from Chinese stock market on Thursday and SHFE 1601 copper fell back gradually. The red metal finally closed at an intro-day low of RMB 38,220/mt, down by RMB 310/mt or 0.80%. Positions jumped 28,344 to 296,380 and trading volumes were around 515,000 lots.