Shanghai copper down 0.7% w-o-w on stronger dollar, weak buying

Dec 30, 2011 | 02:56 AM |

Shanghai Futures Exchange copper settled the week 0.7% lower on a stronger dollar. SHFE March copper settled at 55,040 yuan ($8,722) per tonne, up 1.3% from Thursday's settlement but down 420 yuan from a week ago. Copper held in SHFE official warehouses rose by 1,171 tonnes to 93,219 tonnes. Spot copper prices on Changjiang Nonferrous Metals Exchange rose by 575 yuan to 55,150-55,350 yuan per tonne on Friday. "The Italian bond auction overnight achieved mediocre results,....

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