SHFE 1709 Copper Rallies at End of Trading (2017-7-6)

SHANGHAI, Jul. 6 (SMM) – SHFE 1709 copper opened at RMB 46,890/mt today and then hovered around RMB 46,821/mt. LME copper inventories fell 1,150 mt at the end of trading, driving up LME copper. As a number of shorts left the market, SHFE 1709 copper pulled up to RMB 46,980/mt and closed at RMB 46,960/mt. Trading volumes added 25,000 lots, and positions increased 368 to 197,000. Total positions on SHFE copper decreased 9,022 to 599,000. SHFE 1709 copper is expected to move steadily this evening.