Copper futures traded on the Shanghai Futures Exchange (SHFE) ended lower on Monday, as investors were concerned about consumption of the red metal in the coming months.
The Shanghai benchmark copper contract for November delivery closed 1.42 percent lower at 40,340 yuan/metric ton (tonne) on Monday.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 40,050-40,500 yuan/tonne on Monday, down 585 yuan from the previous trading day.
It is worth noting that the SHFE zinc for November delivery hit a five-year low and closed down 4.83 percent to 13,685 yuan/tonne on Monday due to rising stocks at home and abroad.
On Monday, other SHFE base metals also closed lower with the benchmark aluminum, lead, nickel and tin down 0.79 percent, 1.35 percent, 0.08 percent and 0.96 percent, respectively.
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