SHANGHAI, Mar. 22 (SMM) – SHFE 1605 copper started at RMB 38,180/mt overnight and once climbed to RMB 38,430/mt, to end at RMB 38,310/mt, a gain of RMB 120/mt. Positions dropped 1,616.
SHFE copper opened Tuesday trading session at RMB 38,310/mt and dived to RMB 38,060/mt in response to crude oil and US dollar, to close at RMB 38,150/mt, a drop of RMB 40/mt or 0.10%. Positions decreased 3,502. Positions for all SHFE copper contacts reduced 1,408 to 744,400 with trading volumes at 610,000 lots. Positions of SHFE 1606 copper increased 2,350.
SHFE 1605 copper should test the 5-day moving average this evening.