SHANGHAI, Mar. 11 (SMM) – SHFE 1605 copper opened at RMB 37,350/mt overnight and once dipped to RMB 37,040/mt as decision made by the ECB triggered worries about economic situation, to end at RMB 37,190/mt, down by RMB 230/mt.
SHFE copper started Friday trading session at RMB 37,210/mt and grew to RMB 37,740/mt at one time responding to crude oil prices, to close at RMB 37,710/mt, up RMB 290/mt or 0.77%. Trading volumes were up 19,380 to 702,800 with positions up 17,632. Total positions for all SHFE copper contracts were up over 10,000 with trading volumes at 730,000 lots.
SHFE copper will stay strong in near future with longs entering market for forward-month contracts.