SHANGHAI, Jun. 15 (SMM) – On Thursday, SHFE 1708 copper opened at RMB 45,400/mt and then rallied to RMB 45,770/mt with positions closing by shorts. The contract later fell back after meeting resistance at the 10-dat moving average, and closed at RMB 45,600/mt, down RMB 200/mt. Positions reduced 6,444 to 208,000 and trading volumes dropped 4,132 to 220,000 lots. SHFE 1708 copper will fluctuate among the moving averages for the foreseeable future.