SHANGHAI, Nov. 18 (SMM) – SHFE 1601 copper started at RMB 35,300/mt for night trading Tuesday and advanced to RMB 35,370/mt due to exit of shorts. Later, the contract fell back to RMB 35,020/mt on firm dollar and ended at RMB 35,090/mt with a loss of RMB 90/mt or 0.26%. Positions grew 8,918 to 337,386 and trading volumes were around 322,000 lots.
SHFE copper fell to a new low of RMB 34,420/mt on Wednesday but later bounced back thanks to short-covering, to close at RMB 34,880/mt, falling RMB 300/mt. Positions fell 124 and trading volumes were around 887,000 lots.