SHANGHAI, Jun. 17 (SMM) – Overnight, SHFE 1608 copper opened lower at RMB 35,210/mt and ended at RMB 35,250/mt, down RMB 440/mt. Positions were down 6,460.
On Friday, SHFE 1608 copper started higher at RMB 35,340/mt and once broke through the 20-day moving average. The red metal finally closed at RMB 35,560/mt. Positions were down 16,300. Positions of all SHFE copper contracts fell 12,336 to 660,000 with trading volumes at 440,000 lots.