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Tags: SHFE copper prices,  SHFE aluminum prices, aluminium circle,  SHFE zinc prices,  Shanghai tin prices,  Shanghai nickel prices

SHANGHAI, Feb. 12 (SMM) – Copper The April-delivery copper open at RMB 41,020/mt on Wednesday, and hovered near RMB 41,020/mt in the morning. However, the prices climbed to RMB 41,270/mt in the afternoon with shorts closing positions and ended the day trading at RMB 41,100/mt, down RMB 220/mt. Positions of the most active contract fell by 32,196 to 294,416, and trading volumes increased about 60,000 lots. Positions of SHFE 1505 copper contract grew 19,812 to 239,504. SHFE most-active copper contract opened at RMB 40,990/mt during night session Tuesday and finished at RMB 40,950/mt, down by RMB 370/mt. Spot discounts in Shanghai market expanded to RMB 100-180/mt early Wednesday. Traded prices were RMB 40,900-41,020/mt for standard-quality copper and RMB 40,980-41,100/mt for high-quality copper. Goods holders quoted at discounts of RMB 100-180/mt to SHFE 1503 copper contact, but trades were seldom made. As result, spot discounts widened, with hydro-copper offered at a discount of RMB 300/mt. In the afternoon, spot discounts once hit RMB 350/mt, but higher SHFE copper allowed traded prices to rise above RMB 41,000/mt. Downstream buyers only watched from the sidelines. Aluminum On Tuesday night, SHFE 1504 aluminum contract dropped below the 10-day moving average after starting at RMB 13,125/mt, and finished the night session at RMB 13,060/mt. Trading volumes totaled 11,664 lots, with positions down 424 to 118,420.

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