SHFE Copper Posts Declines (May 19, 2016)

Published: May 19, 2016 17:21

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SHFE 1607 copper started at RMB 35,210/mt overnight and once dived to RMB 35,110/mt.

SHANGHAI, May 19 (SMM) – SHFE 1607 copper started at RMB 35,210/mt overnight and once dived to RMB 35,110/mt. The red metal rebounded to RMB 35,640/mt before closing the session at RMB 35,600/mt, up RMB 10/mt. Positions were down 6,134.

SHFE 1607 copper opened at RMB 35,410/mt on Thursday and moved higher to RMB 35,540/mt. The red metal later sank to RMB 35,110/mt and ended at RMB 35,200/mt, down RMB 390/mt or 1.1%. Positions were down 13,766. Positions for all SHFE copper contracts dropped 4,086 to 760,000 with trading volumes at 690,000 lots.

SHFE 1607 copper may test support at RMB 35,000/mt tonight.

SHFE copper price

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