Copper futures traded on the Shanghai Futures Exchange (SHFE) closed lower on Thursday, ending four-day winning streak. Tracking its three-month copper peer on the London Metal Exchange (LME), the Shanghai benchmark copper contract for July delivery closed 0.50 percent lower at 45,860 yuan/metric ton (tonne) on Thursday.
On Thursday, the SHFE copper moved volatile at the negative territory throughout the trading day, showing investors' concerns about the red metal outlook. The lower-than-expected consumption still weighed on the red metal, said analysts.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 45,800-46,000 yuan/tonne on Thursday, down 325 yuan from the previous trading day.
On Thursday, the SHFE benchmark aluminum, zinc and lead closed down 0.55 percent, 1.07 percent and 3.23 percent, respectively, while the SHFE July nickel closed up 0.36 percent at 112,500 yuan/tonne. The SHFE July tin closed flat at 122,030 yuan/tonne.
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