SHFE Copper Finishes Lower (2017-8-23)

SHANGHAI, Aug. 23 (SMM) – On Wednesday, SHFE 1710 copper opened at RMB 51,670/mt and then dropped to RMB 51,310/mt. Later, the contract rallied to RMB 51,720/mt briefly and fell again to RMB 51,560/mt. SHFE 1710 copper closed at RMB 51,560/mt, down RMB 190/mt. Positions were down 16,086 to 218,000 and trading volumes reduced 54,434 to 331,000 lots. Positions of all SHFE copper contracts decreased 20,866 to 701,000.

COMEX Copper Inventories (2017-8-22)

SHFE 1710 copper will remain in downward track on Wednesday’s night trading.