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Shanghai copper rebounds on low inventory

From brecorder.com

Shanghai copper prices rose on Monday as low inventory levels provided a cushion after prices fell for three straight weeks due to weaker-than-expected demand in China. The most-traded June copper contract on the Shanghai Futures Exchange was up 0.8% to 67,120 yuan ($9,706.44) a tonne as of 0420 GMT, aluminium advanced 0.4% to 18,390 yuan a tonne and nickel rose 0.3% to 183,870 yuan a tonne. SHFE zinc increased 1.6% to 21,485 yuan a tonne, tin was 0.4% higher at 207,630 yuan a tonne, while lead fell 0.2% to 15,285 yuan a tonne. Copper inventories in SHFE warehouses fell to their lowest levels since Jan. 13 to 134,919 ... (full story)

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  • Category: Fundamental Analysis