MB:Shanghai copper futures surge by 2% on solid restocking
Shanghai Futures Exchange copper surged on Friday after China's blistering inflation rate showed signs of cooling, with restocking demand sending the red metal more than 2% higher
Shanghai Futures Exchange copper surged on Friday after China's blistering inflation rate showed signs of cooling, with restocking demand sending the red metal more than 2% higher. SHFE December copper ended at 56,010 yuan ($8,757) per tonne, its highest in three weeks. The contract is 2.1% above Thursday and 2.2% higher than before China's golden week. Copper drooped on Thursday after an official estimate of Chinese copper stocks for end-2010 turned out higher than expected. But it rebounded strongly after China's consumer price index grew by 6.1% year-on-year in September, slowing down from August's 6.2%, allaying worries...
