SHFE Copper Posts Declines (Mar. 30, 2016)

SHANGHAI, Mar. 30 (SMM) – SHFE 1605 copper once dipped to RMB 37,200/mt after starting at RMB 37,580/mt overnight. The red metal later erased all the losses thanks to softer dollar and ended at RMB 37,520/mt, a drop of RMB 190/mt. Positions were down 305 for SHFE 1605 copper while grew 11,946 for SHFE 1606 copper.

The May-delivery copper on SHFE opened at RMB 37,540/mt on Wednesday and fell back all the way in response to crude oil prices. The contract bounced back answering to Chinese A-shares and crude oil prices and closed at RMB 37,040/mt, down RMB 670/mt or 1.78%. Positions decreased 10,410. SHFE 1606 copper started at RMB 37,500/mt and finished the day at RMB 36,990/mt, falling RMB 760/mt or 2.01%. Positions increased 57,078.