LIVE FUTURES REPORT 17/07: SHFE copper prices firm up on better-than-expected Chinese data

Copper prices on the Shanghai Futures Exchange (SHFE) were firmer during Asian morning trading on Monday July 17, in response to the release of stronger-than-expected Chinese economic data.

The most-traded September SHFE copper contract stood at 47,340 yuan ($6,989) per tonne as of 03:20 BST, up 180 yuan on the previous session’s close. Open interest for the contract was at around 206,000 positions.

Monday saw the release of several key indicators from China that pointed to faster-than-expected expansion in the country’s economy. China's gross domestic product (GDP) expanded 6.9% year-on-year in the first half of 2017, beating expectations of 6.8%, according to the country’s National Bureau of Statistics (NBS). Meanwhile, China recorded second-quarter GDP growth of 6.9%, unchanged from the previous quarter but stronger than the forecast – growth of 6.8% had been expected. China’s real estate sector, one of the country’s main drivers of economic growth,...


Kiki Kang

July 17, 2017

06:50 GMT