SHANGHAIM, Jun. 27 (SMM) – On Tuesday, SHFE 1708 copper opened at RMB 46,560/mt and then dipped to RMB 46,430/mt. China’s profits at above-scale industrial enterprises rose 16.7% YoY in May. SHFE 1708 copper thus rallied. During the afternoon trading, the contract kept rising, up to as high as RMB 46,750/mt, and closed at RMB 46,720/mt. Positions reduced 12,284 to 193,000 and trading volumes decreased 27,568 to 165,000 lots.
There is a possibility decline for SHFE 1708 copper on Tuesday’s night trading.