[Cu Price]SHFE Copper Faces upside Pressure at RMB 40,150/mt (Jul. 21, 2015)

SHANGHAI, Jul. 21 (SMM) – SHFE 1509 copper started at RMB 39,800/mt during evening session Monday and then dipped to RMB 39,640/mt. The red metal then tested RMB 40,230/mt but gave back earlier gains near the session’s end, to close at RMB 39,940/mt. Positions fell 3,764 and trading volumes totaled 153,000 lots.

September-delivery copper faced upside pressure at RMB 40,150/mt during Tuesday morning session and dropped in the afternoon business, to finish at RMB 40,080/mt, up RMB 140/mt or 0.35%. Trading volumes fell 107,000 lots and positions declined 7,094.