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Shanghai copper hits 7-week high on supply worries, strong China demand
Shanghai copper rose to a seven-week high on Wednesday as supply worries and firm Chinese demand lifted prices, while London copper eased after touching a six-week peak a day earlier. The most-traded copper contract on the Shanghai Futures Exchange was up 1.21% at 106,100 yuan ($15,672.55) a metric ton as of 0300 GMT. Earlier in the day, it touched its highest since June 3 at 106,760 yuan. Benchmark three-month copper on the London Metal Exchange slipped 0.39% to $13,831.5 a ton after hitting a six-week high on Tuesday. Copper inventories have fallen in LME-registered warehouses and SHFE-monitored warehouses. Chinese ... (full story)
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