SHFe copper contract goes limit down to 39-month low on pandemic

摘要

Singapore—The main copper contract listed on China’s Shanghai Futures Exchange fell 6% to Yuan 39,810/mt ($5,671/mt) Wednes- day, the lowest level since December 2016, as the coronavirus pandemic continues to batter demand. Market participants are bracing for more copper end-user plants to close as the number of coronavirus or COVID-19 cases rises across Europe and the US. “Global GDP growth will slow down this year and we have no idea when the situation will start to improve,” a Shanghai-based copper analyst said.