The most-traded April copper contract on the Shanghai Futures Exchange closed up 0.2 percent at 57,680 yuan ($9,200) a tonne on Friday, gaining 1.8 percent for the week. Demand for physical copper remained tepid. The discount of spot copper to Shanghai front-month copper futures contract widened to 405 yuan a tonne, from 400 yuan on Thursday, the Shanghai Metals Market said on its website.(www.smm.cn)
"Shanghai copper has been leading the gains this month thanks to renewed confidence after the leadership transition in Beijing," said Chen Dixi, an analyst at Jinrui Futures in the southern Chinese city of Shenzhen.
Comments
Comments are closed.