SHFE 1710 Copper Ends with Small Gains (2017-8-29)

SHANGHAI, Aug. 29 (SMM) – SHFE 1710 copper opened at RMB 52,740/mt on Tuesday, and hit a high of RMB 52,940/mt. Shibor rose 7.10 basis points, the biggest increase in nearly one month and a half, indicating tight liquidity. Later, longs exited, sending SHFE 1710 copper down to RMB 52,430/mt. Finally, the most active contract ended up RMB 160/mt at RMB 52,670/mt. Positions of SHFE 1710 copper were down 14,804 lots to 196,000 lots, and its trading volumes fell 97,214 lots to 246,000 lots. Positions of all SHFE copper contracts fell 17,390 lots to 682,000 lots. With tight market liquidity, SHFE 1710 copper may see slight downward corrections in the short term.