SHANGHAI, May 4 (SMM) – On Thursday, SHFE 1706 copper started at RMB 45,480/mt and then fluctuated below RMB 45,500/mt. Later, the contract dropped to RMB 45,010/mt with rising US dollar index and closed at RMB 45,180/mt, down RMB 1,510/mt. Positions fell 2,954 to 183,000 while trading volumes rose 178,000 to 309,000 lots. Position of SHFE 1709 copper increased 11,782 and those of all SHFE copper contracts rose 7,670. LME copper continued falling on Thursday due to rising LME copper inventory.
SHFE 1706 copper will keep falling momentum on Thursday’s night trading.