Markets > Futures

Shanghai copper futures end lower Mon, tracking LME peer

BEIJING
2015-08-03 15:55

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Copper futures traded on the Shanghai Futures Exchange (SHFE) ended lower on Monday, tracking its three-month copper peer on the London Metal Exchange (LME). The Shanghai benchmark copper contract for October delivery closed 1.33 percent lower at 37,870 yuan/metric ton (tonne) on Monday.

Dollar-dominated commodities appeared costlier to holders of other currencies when the greenback strengthened. The strong dollar on Monday weighed on the red metal. Meanwhile, concerns about the domestic copper demand still clouded the red metal market, said analysts.

Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 38,560-38,940 yuan/tonne on Monday, down 320 yuan from the previous trading day. On Monday, other SHFE base metals also closed lower with the benchmark aluminum, zinc, lead and tin down 1.35 percent, 1.92 percent, 1.27 percent, 2.56 percent and 1.56 percent, respectively.

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