LME trading volumes, along with prices, traded sideways for the first three weeks of the month and picked up the pace toward the end of the month, signaling an uptrend. Prices reached $9,856/mt before closing the month. Prices and trading volumes have dropped since. SHFE prices behaved similarly to LME prices, trading sideways the first three weeks of the month and climbing the last week. The SHFE price closed the month at CNY 71,180/mt. Just like the LME, prices dropped the first week of August. Trading volumes on the SHFE were unusually lower…
