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Shanghai copper falls on weaker Chinese demand, profit-booking
Shanghai copper declined on Tuesday, as profit-taking and weaker Chinese demand weighed on the market amid a broader risk-off turn. The most-traded contract on the Shanghai Futures Exchange dropped 1.96% to 98,490 yuan ($14,064.78) per metric ton, as of 0330 GMT, after briefly touching 96,010 yuan, the lowest since December 25. The losses in the initial minutes of trading were narrowing, following gains in the benchmark three-month copper on the London Metal Exchange, which climbed 2.19% to $12,489.50 a ton. Lower copper prices encouraged some dip-buying, helping trim losses, traders said. The decline in Shanghai ... (full story)
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