SHANGHAI (Scrap Monster): SHFE copper prices ended lower on Tuesday as the market continued to focus on uncertain demand in China.
The February copper contract settled at 56,340 yuan ($8,955) per tonne on the Shanghai Futures Exchange (SHFE), down 450 yuan from Monday. The metal’s trading volume rose 9% to 255,612 lots.
“LME copper inventory rose by a lot yesterday, while local smelters are planning to export copper due to persistently weak demand and high inventories in China,” said physical trader in Shanghai.
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