SHANGHAI, Jan. 26 (SMM) – On Thursday, SHFE 1703 copper opened at RMB 47,750/mt and then dropped to RMB 47,580/mt. During the afternoon trading, SHFE 1703 copper advanced to RMB 48,210/mt with short covering and finally closed at RMB 48,040/mt. Positions fell 6,276 to 160,000 and trading volumes dropped 8,608 to 189,000 lots. Positions of all SHFE copper contracts were down 3,354 to 445,000 with trading volumes down 32,106 to 293,000 lots. SHFE 1703 copper hovered at highs on Thursday with positions closing by shorts.
SHFE market will close from Thursday night for 2017 Chinese New Year holiday.