SHANGHAI, May 12 (SMM) – SHFE 1607 copper started at RMB 36,080/mt overnight and closed the session at RMB 35,910/mt, down RMB 10/mt. Positions were up 3,802.
SHFE 1607 copper opened higher at RMB 35,930/mt on Thursday and dived to RMB 35,840/mt. The red metal later advanced to RMB 36,520/mt due to gains in crude oil prices and ended at RMB 36,240/mt, up RMB 320/mt or 0.89%. Positions were down 13,468. Positions for all SHFE copper contracts were down 13,650 to 750,000 with trading volumes at 690,000 lots.
SHFE 1607 copper may test support at RMB 36,000/mt tonight.