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SHFE Copper Finishes Higher (2017-1-12)
Jan 12, 2017 18:05Source:SMM
SHFE 1703 copper started at RMB 46,820/mt and finally ended at RMB 46,980/mt, up RMB 30/mt.
SHANGHAI, Jan. 12 (SMM) – On Thursday, SHFE 1703 copper started at RMB 46,820/mt and then advanced to RMB 47,200/mt with positions opening by longs. The contract later gave all previous gains, hurt by longs taking profits. During the afternoon trading, SHFE 1703 copper was weighed by the moving average and finally ended at RMB 46,980/mt, up RMB 30/mt. Positions fell 5,318 to 221,000 and trading volumes reduced 81,760 to 290,000 lots. Positions of all SHFE copper contracts were down 10,414 to 494,000 with trading volumes down 127,000 to 408,000 lots. SHFE 1703 copper fluctuated at around RMB 47,000/mt on Thursday with lack of news.
SHFE 1703 copper will keep fluctuating at current price on Thursday’s night trading.
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