Shanghai base metals prices fall on eurozone worries

Shanghai Futures Exchange copper fell by 1.6% on Thursday May 31 as mounting concerns over the continued debt crisis in Europe weighed on metals prices.

SHFE September copper settled at 54,450 yuan ($8,580) per tonne, down 900 yuan from Wednesday. “The current market focus is the eurozone situation, as it puts downwards pressure on the euro,” Yang Xiaoguang, Shenzhen-based metal analyst at Jinrui Futures, said, adding that both the euro and metals prices were expected to fall further. Investor concern at Spain's economic problems sent the country's borrowing costs to a high for the year on Wednesday, as the government angrily...

Published

May 31, 2012

12:40 GMT

Shanghai

Keywords