Copper futures traded on the Shanghai Futures Exchange (SHFE) ended lower on Friday, tracking its three-month copper peer on the London Metal Exchange (LME). The Shanghai benchmark copper contract for June delivery closed 0.16 percent lower at 43,280 yuan/metric ton (tonne) on Friday.
Fundamentals remain a big concern for investors at present. Despite the weather turning warm, demand from downstream sector did not improve obviously. Given sufficient supplies and weak demand, the SHFE copper is expected to hover around 43,000 yuan/tonne in the near term, say analysts.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 43,320-43,580 yuan/tonne on Friday, down 130 yuan from the previous trading day. On Friday, other Shanghai metals closed higher with the benchmark aluminum, zinc, lead, nickel and tin up 0.04 percent, 1.06 percent, 1.52 percent, 3.16 percent and 0.26 percent, respectively.
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