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Shanghai copper tumbles amid broad selloff ahead of China holiday

From brecorder.com

Shanghai copper declined on Friday amid a broader sell-off, as Chinese investors left on the last trading day before the long Lunar New Year break. The most-active copper contract on the Shanghai Futures Exchange tumbled 1.97% to 100,660 yuan ($14,576.79) a metric ton as of 0245 GMT, but was set to end the week gaining 0.65%. The benchmark three-month copper on the London Metal Exchange, however, rose 0.63% to $12,957 a ton, hovering below the $13,000 mark, and is poised to end the week 0.32% lower. The London benchmark tumbled 2.21% on Thursday. Physical demand is falling in China ahead of the nine-day break to ... (full story)

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  • Category: Fundamental Analysis