LIVE FUTURES REPORT 02/01: Subdued start to new year for SHFE base metals; Cu outperforms with 0.2% rise

The base metals traded on the Shanghai Futures Exchange had a subdued start to the new year, with the complex on divergent paths at the close of the morning trading session on Thursday January 2.

Copper outperformed its peers, albeit with a marginal 0.2% rise, while gains were limited throughout the rest of complex. The most-traded February copper contract rose to 49,260 yuan ($7,073) per tonne at the end of Thursday’s morning trading session, up by 110 yuan per tonne from Tuesday’s close of 49,150 yuan per tonne.
The mild gains in copper follow several positive macroeconomic developments in recent days.

United States President Donald Trump announced via social media platform Twitter on Tuesday that he will sign the phase one trade deal with China on January 15 and will head...

Published

Hui Li

January 02, 2020

05:10 GMT

Shanghai