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SHFE Copper Trades Up (2016-8-11)
Aug 11, 2016 17:06Source:SMM
SHFE 1610 copper opened higher at RMB 37,790/mt last night and closed the session at RMB 37,450/mt, up RMB 100/mt.
SHANGHAI, Aug. 11 (SMM) – SHFE 1610 copper opened higher at RMB 37,790/mt last night and closed the session at RMB 37,450/mt, up RMB 100/mt. Positions fell 4,580.
On Thursday, SHFE 1610 copper fell back after touching the 20-day moving average after starting at RMB 37,490/mt. The red metal finally closed RMB 180/mt higher at RMB 37,53/mt. Positions were down 6,940. Positions of all SHFE copper contracts dropped 13,482 to 540,000 with trading volumes at 370,000 lots.
SHFE 1610 copper may test support at RMB 37,500/mt tonight with support at the 40-day moving average and falling LME copper stocks.
SHFE copper prices
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