SHFE Copper hits 6-week high

SHFE Copper prices hit a six-week high on Wednesday mainly due to a rebound in local equities markets.

SHANGHIA (Scrap Monster): SHFE Copper prices hit a six-week high on Wednesday mainly due to a rebound in local equities markets.

The most-traded March copper contract on the Shanghai Futures Exchange settled at 57,640 yuan ($9,175) per tonne, up 300 yuan from the previous session.

The copper prices rose to as high as 57,970 yuan per tonne during the day, the highest level since October 19.

The Shanghai Composite Index, one of China’s key stock indicators, climbed by 2.87% on Wednesday to close at 2,031.91 points, the highest close since November 15.

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