SHFE Copper Closes Higher (2017-4-28)

SHANGHAI, Apr. 28 (SMM) – On Friday, Trump said that he is more likely to resolve nuclear issue of North Korea peacefully. People’s Bank of China posted no injection and withdrawal, and Shanghai Interbank Offered Rate (Shibor) increased for 8 days in a row, hitting a 2-year high. SHFE 1706 copper opened at RMB 46,320/mt and then fluctuated at RMB 46,300/mt, down as low as RMB 46,180/mt. Later, the contract rallied to RMB 46,470/mt and closed at RMB 46,330/mt, up RMB 20/mt. Positions fell 17,410 to 197,000 and trading volumes increased 94,218 to 313,000 lots. Positions of all SHFE copper contracts rose 2,590. Positions of SHFE 1707 copper grew 18,002, and those of SHFE 1708 copper increased 10,022.

SHFE market will close for May Day holiday on Friday’s nigh trading.