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 June delivery closed 0.60 percent higher at 43,930 yuan/metric ton (tonne) on Thursday.
With the weather turning warmer, expectation for recovery in copper demands from downstream users boosted the market sentiment, say analysts. Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 43,650-43,850 yuan/tonne on Thursday, up 300 yuan from the previous trading day.
Other Shanghai base metals also closed higher on Thursday with the benchmark aluminum, zinc and lead futures contracts up 0.08 percent, 0.22 percent and 0.40 percent, respectively.
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