ASIAN PRICE WRAP: Copper rises on speculators, hopes for China demand

Copper prices extended gains in Asian trading hours on Tuesday March 24, as hopes for better Chinese spot demand, as well as speculative activities, underpinned the red metal.

On the Shanghai Futures Exchange (SHFE), the most-traded June copper contract gained 160 yuan ($26) to end at 43,850 yuan per tonne for the session.
LME three-month copper slid by $17 from its opening price to trade at $6,133 per tonne at 07:12 British time. It touched a 2.5-month high of $6,203.50 early in the session before retreating, but still stayed above $6,100.

“It seems some major shorts and longs are battling on copper prices, with Jiangxi Copper the biggest long, and some private funds...


Linda Lin

March 24, 2015

10:56 GMT