SHFE Copper Post Gains (May 11, 2016)

SHANGHAI, May 11 (SMM) – SHFE 1607 copper started at RMB 35,880/mt overnight and later fell back before closing the session at RMB 35,760/mt, down RMB 440/mt. Positions were up 3,668.

SHFE 1607 copper opened higher at RMB 35,900/mt on Wednesday and advanced to RMB 36,020/mt. The red metal later sank to RMB 35,820/mt due to losses in ferrous metals and crude oil prices but in the afternoon business the contract grew to RMB 36,070/mt and ended at RMB 35,960/mt, up RMB 90/mt or 0.25%. Positions were up 9,906. Positions for all SHFE copper contracts were up 18,876 to 766,000 with trading volumes at 530,0