SHANGHAI, May 4 (SMM) – SHFE 1607 copper started higher at RMB 37,680/mt overnight and dived to RMB 37,190/mt before closing the session at RMB 37,290/mt, down RMB 390/mt. Positions were up 10,652.
SHFE 1607 copper opened higher at RMB 37,270/mt on Wednesday and dipped to RMB 37,140/mt, to end at RMB 37,230/mt, down RMB 450/mt or 1.19. Positions were up 24,384. Positions for all SHFE copper contracts grew 24,914 to 690,000 with trading volumes at 720,000 lots.
SHFE 1607 copper may test support at RMB 37,000/mt tonight.