SHANGHAI, May 10 (SMM) – SHFE 1607 copper moved lower RMB 35,670/mt overnight and later rebounded to RMB 36,000/mt before closing the session at RMB 35,830/mt, down RMB 440/mt. Positions were down 6,874.
SHFE 1607 copper opened at RMB 35,800/mt on Tuesday and dipped to RMB 35,720/mt. The red metal later grew to RMB 36,080/mt and ended at RMB 35,950/mt, down RMB 320/mt or 0.88%. Positions were down 14,566. Positions for all SHFE copper contracts fell 19,698 to 750,000 with trading volumes at 610,000 lots.
SHFE 1607 copper may fluctuate around RMB 36,000/mt tonight.