Shanghai Futures Exchange copper prices slid downward for a fourth day on Thursday July 26, but losses were mitigated by some positive news from the eurozone.
SHFE November copper settled at 54,090 yuan ($8,548) per tonne, down 0.2% from Wednesday’s session. Ewald Nowotny, a member of the European Central Bank Governing Council, said on Wednesday that there are arguments for giving the European Stability Mechanism (ESM) – the eurozone’s permanent bailout fund – a banking license. This would radically expand the funds it could make available to aid struggling members of the eurozone. This helped European shares briefly return to positive territory in yesterday’s morning session, as a license...
