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Shanghai copper futures end higher Thu, tracking LME peer

BEIJING
2015-07-02 15:39

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Copper futures traded on the Shanghai Futures Exchange (SHFE) ended higher on Thursday, tracking its three-month copper peer on the London Metal Exchange (LME).

The Shanghai benchmark copper contract for September delivery closed 0.60 percent higher at 42,200 yuan/metric ton (tonne) on Thursday.

Facility overhauls by large and medium-sized copper smelting plants led to a tight supply on the domestic market in the short term. The recent performances of the SHFE red metal signaled a recovery, say analysts.

Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 42,700-42,850 yuan/tonne on Thursday, up 125 yuan from the previous trading day.

On Thursday, other SHFE base metals also closed higher with the benchmark aluminum, zinc, lead and tin up 1.08 percent, 2.27 percent, 3.48 percent, 1.13 percent and 2.15 percent, respectively. (Contributed by Hu Pingchao, hupingchao@xinhua.org)

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