SHANGHAI, Nov. 19 (SMM) – SHFE 1601 copper started at RMB 34,840/mt during Wednesday night session and closed the session down RMB 250/mt or 0.72% at RMB 34,670/mt. Positions declined 3,874 to 324,470 and trading volumes were around 334,400 lots.
The January-delivery copper on the SHFE dived to RMB 34,210/mt on Thursday and then bounced back in response to Chinese stock market and exit of shorts, to end at RMB 34,770/mt, down by RMB 150/mt or 0.43%. Positions declined 5,296 with trading volumes around 840,000 lots. Positions opened by longs were higher than shorts for the first time for SHFE 1603 contract.