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Shanghai copper price up on positive factory data

July 24, 2014 - 10:40 GMT Location: Shanghai

KEYWORDS: Shanghai copper , SHFE , Changjiang , PMI , HSBC flash PMI , purchasing managers' index

The Shanghai Futures Exchange (SHFE) copper prices closed higher on Thursday July 24, after data showed robust expansion in China’s manufacturing activity in July.

The September copper contract closed 640 yuan ($104) higher than the previous day at 50,650 yuan per tonne. The HSBC China flash manufacturing purchasing managers’ index (PMI) rose to 52 in July from 50.7 in June. The reading was the highest since January 2013. Analysts said there was room for the red metal to...

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