Shanghai copper prices rise on liquidity injection from central bank

Shanghai Futures Exchange copper prices rose on Friday September 28 after action from China’s central bank provided a last-minute boost to a lacklustre week.

SHFE January copper settled at 59,460 yuan ($9,468) per tonne, up 460 yuan from Thursday, but still 300 yuan lower than a week ago. SHFE physical inventory dropped 4,282 tonnes to 162,547 tonnes this week. “The scale of the liquidity injection is impressive, the result is close to that of lowering the bank reserve requirement ratio by 0.5%,” an analyst from...

Published

Carol Lu

September 28, 2012

10:54 GMT

Shanghai