LIVE FUTURES REPORT 11/10: SHFE base metals prices soften on tumbling equities, firm dollar

Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Thursday October 11 amid concerns over the global macro-economic environment and dollar strength.

“Equity markets were locked in a sharp sell-off, with concern around how far yields will rise, warnings from the IMF about financial stability risks and continued trade tension all driving uncertainty,” according to ANZ Research. The most-traded copper price on the SHFE slipped 680 yuan ($98) this morning, shrugging off the bullish outlook on the red metal from LME Week delegates and supportive fundamentals such as declining overseas stocks. Aurubis chief executive Jürgen Schachler told Fastmarkets at LME Week that major annual copper premium increases are coming as a result of booming demand for refined metal. “Copper prices have taken the hit from bearish...

Published

Violet Li

October 11, 2018

04:35 GMT

Shanghai