SHANGHAI, Jun. 30 (SMM) – Last night, SHFE 1609 copper opened higher at RMB 37,250/mt and dipped to RMB 37,080/mt. The contract bounced back to RMB 37,450/mt and ended at RMB 37,330/mt, up RMB 70/mt. Positions were down 4,080.
On Thursday, SHFE 1609 copper started at RMB 37,310/mt and climbed to RMB 37,260/mt after dipped to RMB 37,260/mt. The contract finally closed at RMB 37,530/mt, up RMB 270/mt. Positions were down 846. Positions of all SHFE copper contracts dropped 15,624 to 630,000 with trading volumes at 600,000 lots.
SHFE 1609 copper may fall back tonight.