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Home / Metal News / SHFE Copper Finishes with Gains (2017-3-24)

SHFE Copper Finishes with Gains (2017-3-24)

iconMar 24, 2017 19:20
Source:SMM
SHFE 1705 copper opened at RMB 47,220/mt and closed at RMB 47,100/mt, up RMB 140/mt.

SHANGHAI, Mar. 24 (SMM) – On Friday, SHFE 1705 copper opened at RMB 47,220/mt. China’s central bank withdrew a net RMB 30 billion and Beijing enhanced mortgage risk management. SHFE 1705 copper declined with entering of shorts and fell to RMB 46,980/mt. Later, the contract rallied to RMB 47,330/mt thanks to entering of longs and then declined after breaking through the 5-day moving average. SHFE 1705 copper closed at RMB 47,100/mt, up RMB 140/mt. Positions were down 960 to 220,000 and trading volumes were up 10,948 to 259,000 lots. SHFE 1705 copper moved widely on Friday.

The contract will keep fluctuating at current level in a short term. Eyes should be on Trump’s medical reform.

SHFE copper
LME copper
copper prices

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