Copper futures traded on the Shanghai Futures Exchange (SHFE) ended lower on Monday, tracking bearish local equity markets. The Shanghai benchmark copper contract for August delivery closed 1.19 percent lower at 42,210 yuan/metric ton (tonne) on Monday.
On Monday, the Shanghai Composite Index closed down 2.00 percent at 5,062.99. The recent copper performance indicated that weak fundamentals still weighed on the red metal, say analysts.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 42,500-42,900 yuan/tonne on Monday, down 310 yuan from the previous trading day.
On Monday, other SHFE base metals also closed lower with the benchmark aluminum, zinc, lead, nickel and tin down 0.59 percent, 0.65 percent, 0.46 percent, 2.12 percent and 0.83 percent, respectively.
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