The most-traded September copper contract on the Shanghai Futures Exchange ended 0.5 percent higher at 52,960 yuan a tonne, tracking Wednesday's gains in LME copper. Analysts said higher consumer inflation in China could also be pressuring prices. China's annual consumer inflation quickened to 2.4 percent in April from March's 2.1 percent due to higher food costs, data showed on Thursday.
"Prices have fallen a little bit because of scepticism about the actual quality of the Chinese trade data," said economist Alexandra Knight of the National Australia Bank in Melbourne. "Some people are thinking that they invoiced more than what they were actually trading."
Comments
Comments are closed.