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Print Print edition: 2017-01-07

Shanghai copper down

Published January 7, 2017 Updated January 7, 2017 12:00am

The most-traded copper contract on the Shanghai Futures Exchange (ShFE) was down 1.09 percent at 45,350 yuan ($6,539) a tonne on Friday. Shanghai aluminium was down 1 percent at 12,510 yuan, while ShFE zinc lost 1 percent to 21,215 yuan. "The market is getting some mileage out of the (weaker) dollar, but the moves are not that big," a trader in Sydney said on condition of anonymity. "We're not expecting anything big, it would just bring out the profit taking."
Investors in copper, used in power lines and construction, turned cautious after prices surged 2.6 percent in the previous session to their highest since December 16.

Copyright Reuters, 2017

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