SHFE Copper Trades Higher (2016-8-17)

Published: Aug 17, 2016 17:38

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SHFE 1610 copper opened higher at RMB 37,330/mt last night and dipped to RMB 37,180/mt with exit of longs

SHANGHAI, Aug. 17 (SMM) – SHFE 1610 copper opened higher at RMB 37,330/mt last night and dipped to RMB 37,180/mt with exit of longs. The red metal later rallied to RMB 37,390/mt and closed the session up RMB 200/mt at RMB 37,360/mt. Positions dropped 3,526.

On Wednesday, SHFE 1610 copper started at RMB 37,370/mt and dropped to RMB 37,220/mt due to firmer dollar and falling ferrous metal prices, to close RMB 60/mt higher at RMB 37,220/mt. Positions were down 8,308. Positions of all SHFE copper contracts fell 11,176 to 500,000 with trading volumes at 260,000 lots.

SHFE copper prices

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