Copper futures traded on the Shanghai Futures Exchange (SHFE) ended higher on Monday, tracking bullish local equity markets. The Shanghai benchmark copper contract for June delivery closed 0.69 percent higher at 43,680 yuan/metric ton (tonne) on Monday.
On Monday, the Shanghai Composite Index closed up 2.17 percent at 4,121.71. Despite closing higher, the recent performance of the Shanghai red metal shows that it lacked the driving force to increase further. Fundamentals remained a big concern for investors, say analysts.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 43,700-43,860 yuan/tonne on Monday, up 150 yuan from the previous trading day.
On Monday, the Shanghai June aluminum closed 0.94 percent lower at 13,105 yuan/tonne, while the SHFE zinc, lead, nickel and tin closed up 1.11 percent, 2.23 percent, 1.22 percent and 0.07 percent, respectively.
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