Copper futures traded on the Shanghai Futures Exchange (SHFE) ended lower on Tuesday, tracking its three-month copper peer on the London Metal Exchange (LME). The Shanghai benchmark copper contract for September delivery closed 3.49 percent lower at 39,780 yuan/metric ton (tonne) on Tuesday.
Dollar-dominated commodities appeared costlier to holders of other currencies when the greenback strengthened. The strong dollar on Tuesday weighed on the red metal.
Meanwhile, disappointing local equity markets also dampened investors' appetite, said analysts. Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 40,770-41,430 yuan/tonne on Tuesday, down 640 yuan from the previous trading day.
On Tuesday, other SHFE base metals also closed lower with the benchmark aluminum, zinc, lead and tin down 0.88 percent, 0.29 percent, 0.82 percent, 3.63 percent and 0.07 percent, respectively. (Contributed by Hu Pingchao, hupingchao@xinhua.org)
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