SHANGHAIM, Jun. 22 (SMM) – On Thursday, SHFE 1708 copper opened at RMB 46,100/mt and then slipped to RMB 46,050/mt. During the afternoon trading, the contract surrendered some previous gains with leaving of longs, plunging to around RMB 45,800/mt. SHFE 1708 copper ended at RMB 45,810/mt, up RMB 310/mt. Trading volumes rose 38,000 to 232,000 lots and positions reduced 7,964 to 198,000.
There is a big possibility for SHFE 1708 copper to decline.