SHFE Copper to Close down RMB 180/mt (2016-4-15)

SHANGHAI, Apr. 15 (SMM) – On Thursday’s night trading, SHFE 1606 copper opened at RMB 37,030/mt, and rallied after falling back from highs. The contract finally closed at RMB 37,080/mt, up RMB 120/mt, with positions up 4,604.  

On Friday, SHFE 1606 copper fell at first after opening at RMB 37,050/mt, and then rose. After a slow response to the US dollar index over the week, the contract dipped to RMB 36,740/mt before finally ending at RMB 36,780/mt, down RMB 180/mt or 0.49%, with positions up 1,524. Total positions of SHFE copper contracts were up 2,756 to 729,000, and total trading volumes were 510,000 lots. On Friday’s night trading, SHFE copper will trade around the 40-day moving averages. Market focus will shift to the US after China released a series of major economic data.