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SHFE Copper Prices down 1.15% (2017-3-8)
Mar 8, 2017 17:54Source:SMM
SHFE 1705 copper started at RMB 47,270/mt and closed at RMB 47,300/mt, down RMB 550/mt or 1.15%.
SHANGHAI, Mar. 8 (SMM) – On Wednesday, SHFE 1705 copper started at RMB 47,270/mt. China’s central bank withdrew RMB 20 billion on Wednesday and Shibor increased. SHFE 1705 copper range narrowly at around RMB 47,325/mt, down as low as RMB 47,190/mt. During the afternoon trading, SHFE 1705 copper rallied to RMB 47,415/mt after finding support at the 60-day moving average and closed at RMB 47,300/mt, down RMB 550/mt or 1.15%. Positions were down 408 to 183,000 and trading volumes were up 89,258 to 197,000 lots.
SHFE 1705 copper will test support at the 60-day moving average on Wednesday’s night trading.
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