Mkt Talk: Shanghai copper futures end lower Tue, tracking LME peer
BEIJING, Apr. 22 (Xinhua) – Copper futures traded on the Shanghai Futures Exchange (SHFE) settled lower on Tuesday, tracking the fall of the three-month copper on the London Metal Exchange (LME).
The Shanghai benchmark copper contract for July delivery closed 0.15 percent lower at 46,430 yuan/metric ton (tonne) on Tuesday.
Copper had entered a period of consolidation in the recent trading days, showing the uncertain outlook for the red metal. Demand for the red metal on the domestic market remained the big concern for investors at present, said analysts.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 47,950-48,200 yuan/tonne on Tuesday, down 175 yuan from the previous trading day.
Other Shanghai base metals closed higher on Tuesday with the benchmark aluminum, zinc and lead up 0.38 percent, 0.07 percent and 0.54 percent, respectively. (Edited by Hu Pingchao, firstname.lastname@example.org)