SHANGHAI, May 13 (SMM) – SHFE 1607 copper started at RMB 36,240/mt overnight and once fell to RMB 35,030/mt before closing the session at RMB 35,300/mt, down RMB 850/mt. Positions were up 24,534.
SHFE 1607 copper opened at RMB 35,290/mt on Friday and dived to RMB 35,190/mt. The red metal later advanced to RMB 35,650/mt and ended at RMB 35,480/mt, losing RMB 670/mt or 1.85%. Positions were up 9,666. Positions for all SHFE copper contracts were up 30,502 to 780,000 with trading volumes at 1.01 million lots.
SHFE 1607 copper may test support at RMB 35,000/mt tonight.