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Shanghai copper hovers below record high as Chinese demand picks up, dollar weakens
Shanghai copper hovered below a record high on Thursday as Chinese demand picked up and the U.S. dollar weakened. The most-active copper contract on the Shanghai Futures Exchange rose 0.40% to 95,640 yuan ($13,651.55) a metric ton as of 0330 GMT. Shanghai copper hit an all-time high of 96,750 yuan a ton on Wednesday, while the London benchmark also set a peak at $12,282, nearing the $12,300 mark. The London market is closed for the Christmas Holiday. Copper’s rise came as Chinese demand picked up in the run-up to the holiday season. Yangshan copper premium, a gauge of Chinese appetite for seaborne copper units, has ... (full story)
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