SHFE Copper Ends Higher (May 27, 2016)

SHANGHAI, May 27 (SMM) – SHFE 1607 copper started at RMB 36,090/mt overnight and once grew to RMB 36,210/mt. The red metal sank to RMB 35,770/mt answering to ferrous metals prices and LME copper before closing the session at RMB 35,810/mt, down RMB 30/mt. Positions were down 6,510.

SHFE 1607 copper opened at RMB 35,820/mt on Friday and moved lower to RMB 35,620/mt. The red metal later rebounded to RMB 36,000/mt and ended at RMB 35,910/mt, gaining RMB 70/mt or 0.2%. Positions were down 15,844. Positions of all SHFE copper contracts were up 2,550 to 760,000 with trading volumes at 630,000 lots.