SHFE Copper Finishes Higher (2016-12-7)

Published: Dec 7, 2016 16:57

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SHFE 1702 copper opened at RMB 47,840/mt and finally closed at RMB 48,350/mt.

SHANGHAI, Dec. 7 (SMM) – On Wednesday, SHFE 1702 copper opened at RMB 47,840/mt and then fluctuated at around RMB 47,750/mt. During the afternoon trading, SHFE 1702 copper surged to RMB 48,200/mt due to longs strengthening as Chinese yuan fell to 6.9066. The contract later advanced to RMB 48,500/mt with slowing growth and finally closed at RMB 48,350/mt. Positions were up 26,264 and trading volumes were down 6,824 to 359,000. Positions of all SHFE copper contracts rose 32,010 with trading volumes down 25,030 to 523,000 lots. SHFE 1702 copper increased on Wednesday thanks to falling Chinese yuan.

SHFE 1702 copper is predicted to keep rising momentum on Wednesday’s night trading with optimistic outlook.

SHFE copper LME copper copper prices

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