SHFE Copper prices decline slightly this week
Metal Recycling News | 2012-10-19 07:31:14
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.
By Paul Ploumis
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.
