Copper futures traded on the Shanghai Futures Exchange (SHFE) ended higher on Friday, tracking its three-month copper peer on the London Metal Exchange (LME). The Shanghai benchmark copper contract for August delivery closed 0.39 percent higher at 44,300 yuan/metric ton (tonne) on Friday.
The SHFE copper's recent performance implied no obvious sign of recovery. Given the still sluggish demand, the SHFE will likely hover around 44,500 yuan/tonne in the near term, said analysts. Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 44,400-44,550 yuan/tonne on Friday, up 75 yuan from the previous trading day.
On Friday, the Shanghai benchmark aluminum, zinc, and lead closed up 0.42 percent, 0.72 percent and 0.64 percent, while the SHFE benchmark nickel and tin ended down 1.55 percent and 0.51 percent, respectively.
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