SHFE Copper Suffers a Loss of RMB 510/mt (2015-9-14)

SHANGHAI, Sept. 14(SMM) – SHFE 1511 copper started lower at RMB 40,850/mt last Friday evening session and dived to RMB 40,750/mt. Later, the contract bounced back and regained most losses thanks to a growth in LME copper, to end at RMB 41,070/mt, down RMB 60/mt. Positions fell 4,492 to 216,898 with trading volumes around 210,000 lots.

During Monday trading session, SHFE 1511 copper once grew to RMB 41,200/mt but later dropped to RMB 40,700/mt due to weak sentiment and the unsteady movement in Chinese stock market. The contract finally closed down RMB 510/mt or 1.24% at RMB 40,620/mt. Trading volumes were around 500,000 lots.