SHFE 1710 Copper Ends Down (2017-8-16)

SHANGHAI, Aug. 16 (SMM) –On Wednesday, SHFE 1710 copper moved higher after opening at RMB 50,330/mt. But, the most active contract then fell back to RMB 50,140/mt before ending down RMB 70/mt at RMB 50,170/mt. Trading volumes increased 52,554 lots to 221,000 lots, and positions increased 1,276 lots to 228,000 lots. SHFE 1710 copper will hover near current level, with resistance at the 10-day moving average. Market will eye euro zone’s Q2 GDP and US housing starts data tonight.