Shanghai copper rises after four-day decline as selling pressure eases | Metals Mine

  • Shanghai copper rises after four-day decline as selling pressure eases

    From brecorder.com

    Shanghai copper rose on Thursday after it touched a more than one-week low in the previous session, although weak Chinese market demand limited gains. The most-active copper contract on the Shanghai Futures Exchange was up 0.97% to trade at 86,260 yuan ($12,110.07) per metric ton, as of 0802 GMT. The benchmark three-month copper future on the London Metal Exchange was also up by 0.57% to $10,758.50 a ton. Copper’s consolidation suggested an “unwinding of overextended positions rather than a shift in the fundamental narrative”, analysts at Sucden Financial said in a note. The red metal’s price was still ... (full story)

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