Futures News
- Shanghai News
Date: 26-Jan-2007 Sources: (Shenzhen Daily)
SHANGHAI copper futures were 1 percent higher Thursday, rising on supply concerns and strong economic growth in the world's largest copper consumer, China.
The most active April contract rose 510 yuan to 53,850 yuan (US$6,929) a ton by the close Thursday. 'Consumers are buying after a period of absence. Demand is rising, but production appears to have slowed a little in the fourth quarter due to low fees for treating concentrates,'a Shanghai trader said. 'Imports are up but are unable to meet the demand, which means futures are likely to rise, supported by a very strong physical market,'he said.
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