Shanghai copper down 0.7% w-o-w on stronger dollar, weak buying

Shanghai Futures Exchange copper settled the week 0.7% lower on a stronger dollar.

SHFE March copper settled at 55,040 yuan ($8,722) per tonne, up 1.3% from Thursday's settlement but down 420 yuan from a week ago. Copper held in SHFE official warehouses rose by 1,171 tonnes to 93,219 tonnes. Spot copper prices on Changjiang Nonferrous Metals Exchange rose by 575 yuan to 55,150-55,350 yuan per tonne on Friday. "The Italian bond auction overnight achieved mediocre results, but better-than-expected US figures helped to lift market spirit a tad," an analyst from Shanghai...


Carol Lu

December 30, 2011

07:56 GMT