SHFE Copper bounces back after two-day decline

SHANGHAI (Scrap Monster): SHFE Copper prices bounced back from the past two sessions on Wednesday on improved sentiment.

The February copper contract settled at 56,740 yuan ($9,013) per tonne on the Shanghai Futures Exchange, up 400 yuan from Tuesday. The red metal’s trading volume rose 2,734 lots to 258,346 lots.

Market sentiment improved slightly on Wednesday in line with the price increase in London. Overall, the downward trend did not change with many still short, on demand uncertainties