19 Oct 2012 Last updated at 07:31:14 GMT
SHFE Copper prices decline slightly this week
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SHANGHAI (Scrap Monster): Shanghai Futures Exchange copper prices dropped by 0.7% this week as market participants mulled the latest Chinese macro data, with most remaining on the sidelines as LME Week wound down.
SHFE January copper settled at 58,710 yuan ($9,328) per tonne on Friday October 19, also down 0.7% from the previous session. Spot copper prices fell by 90 yuan to 58,870-59,970 yuan per tonne.
“Most tend to be bullish towards medium-to-long term copper demand, the current market still lacks an imminent boost,” said a Shanghai-based analyst.
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