SHFE Copper Ends down (Jun. 2, 2016)

SHANGHAI, Jun. 2 (SMM) – SHFE 1608 copper started at RMB 35,180/mt overnight and once sank to RMB 35,070/mt before closing the session at RMB 35,380/mt, down RMB 100/mt. Positions were down 9,432.

SHFE 1608 copper opened at RMB 35,360/mt on Thursday and moved higher to RMB 35,450/mt. The red metal later dipped to RMB 35,200/mt and ended at RMB 35,280/mt, falling RMB 200/mt or 0.56%. Positions were up 2,094. Positions of all SHFE copper contracts were down 1,647 to 800,000 with trading volumes at 480,000 lots.  

SHFE 1608 copper should test support at RMB 35,000/mt tonight.