SHANGHAI, Aug. 4 (SMM) – On Friday, SHFE 1710 copper opened at RMB 50,290/mt and then advanced to RMB 50,560/mt with positions opening by longs. Later, the contract edged down to RMB 50,230/mt as longs took profits. SHFE 1710 copper climbed to RMB 50,630/mt and closed at RMB 50,420/mt, up RMB 90/mt. Positions increased 14,520 to 229,000 and trading volumes rose 28,856 to 216,000 lots. Positions of all SHFE copper contracts grew 9,742 to 721,000.
SHFE 1710 copper will fluctuate at current level in a short term.