Shanghai copper prices inch up on market caution

Shanghai Futures Exchange copper prices saw small gains on Tuesday July 31 ahead of key policy meetings at central banks this week.

SHFE November copper settled at 54,980 yuan ($8,658) per tonne, down 10 yuan from the previous trading day. “A softer euro and technical resistance around the 55,000 yuan per tonne level have put downward pressure on commodities,” an analyst from East Asia Futures said. “The market is cautious ahead of tonight’s Fed meeting, with many investors staying on the sidelines, awaiting clearer...

Published

Carol Lu

July 31, 2012

08:42 GMT

Shanghai