SHFE Copper Prices Trade Down (Mar. 21, 2016)

Mar 21, 2016 17:02

SHFE 1605 copper started at RMB 38,300/mt last Friday night.

SHANGHAI, Mar. 21 (SMM) – SHFE 1605 copper started at RMB 38,300/mt last Friday night and fell back to RMB 38,170/mt responding to crude oil prices and LME copper after touching RMB 38,440/mt, to close down RMB 170/mt at RMB 38,110/mt.

SHFE copper opened Monday trading session at RMB 38,010/mt and rallied to RMB 38,340/mt with entering of shorts, to end at RMB 38,160/mt, off RMB 120/mt or 0.31%. Positions were down 2,290. Trading volumes for all SHFE copper contracts totaled 750,000 lots and positions decreased 2,192 to 745,800. Positions of SHFE 1606 copper grew 2,902.

SHFE 1605 copper should test support at RMB 38,000/mt tonight.

SHFE copper prices

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SHFE Copper Prices Trade Down (Mar. 21, 2016)

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