LIVE FUTURES REPORT 13/09: SHFE copper, zinc prices slide on large LME stock rises

Copper and zinc prices on the Shanghai Futures Exchange (SHFE) were pressured lowered during Asian morning trading on Wednesday September 13, following large inventory increases in London Metal Exchange warehouses on Tuesday.

The SHFE’s most-active November copper and zinc prices fell 0.54% and 0.48%, respectively, to 51,420 yuan ($7,911) per tonne and 25,030 yuan per tonne as of 03:14 BST this morning, compared with the previous day’s close. On Tuesday, LME copper stocks increased a net 10,300 tonnes or 4.9% to 218,725 tonnes, while zinc inventories rose a net 13,700 tonnes or 5.6% to 253,975 tonnes. The sharp increases saw the metals prices come under pressure on the LME, with this weakness filtering through to Asia this morning. “Today's Asian session has not seen the selling of the last couple of days and the buyers seem to be back in...


Anna Xu

September 13, 2017

05:30 GMT