SHANGHAI, Mar. 31 (SMM) – On Friday, SHFE 1705 copper started at RMB 47,600/mt. China’s official manufacturing PMI was 51.8 in March, hitting the highest since April 2014. SHFE 1705 copper thus advanced to RMB 47,780/mt and then declined to RMB 47,640/mt with rising US dollar index. The contract increased slightly at the tail of trading and ended at RMB 47,750/mt. Positions fell 9,264 to 194,000 and trading volumes rose 129,000 to 393,000 lots. Positions of SHFE 1706 copper increased 8,160 to 135,094. Positions of all SHFE copper contracts increased 152 to 527,518 with trading volumes up 223,000 to 640,000 lots.
SHFE 1705 copper stabilized on Friday and will close on Friday’s night trading for Chinese Qingming Festival.
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