SHFE Copper Falls on Negative China Manufacturing PMI (2016-2-1)

Published: Feb 1, 2016 20:19

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SHFE 1603 copper opened at RMB 35,720/mt on Monday.

SHANGHAI, Feb. 1 (SMM) –SHFE 1603 copper opened at RMB 35,720/mt on Monday. China’s official manufacturing PMI fell to 49.4 in January, its lowest since August 2012. US crude oil prices and Chinese A-share market fell. These negative factors triggered selloffs by longs, sending SHFE 1603 copper down to RMB 35,350/mt. Finally, SHFE 1603 copper ended down RMB 180/mt at RMB 35,450/mt, with positions down 13,128 to 211,646.

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