Latest News:  
Beijing   Overcast/Thundershower    31 / 22 ℃  City Forecast

Home>>China Business

EU wrangling weights on futures

By Michael Bellart (Global Times)

08:09, June 28, 2012

Most commodity futures fell Wednesday as base metal prices caught up with their international counterparts, while the broader market remained weighed down by the ongoing troubles in Europe.

The most traded copper contract on the Shanghai Futures Exchange (SHFE) tacked on 0.22 percent to close at 53,740 yuan ($8,632.59) per ton. The October contract opened 0.13 percent above Tuesday's closing price, in line with the three-month copper contract on the London Metal Exchange (LME) overnight.

"Shanghai base metals are under pressure as their prices have not fallen as much as their London counterparts over the past few weeks," Great Wall Futures analyst Li Rong told Reuters Wednesday.

LME copper was trading at $7,340 per ton when the domestic markets closed Wednesday, down about 0.3 percent in early trading.

In other commodities, Nymex West Texas Intermediate (WTI) fell 0.3 percent to $79.08 per barrel by the time markets closed Wednesday, reflecting the anxiety in the market over Europe.

European Council President Herman Van Rompuy issued a report Tuesday outlining plans for a fiscal and banking union for the eurozone, Reuters reported. The report put forth an idea for a central institution that could issue common bonds for the entire European Union. However, German Chancellor Angela Merkel has maintained staunch opposition to any institution that could issue shared EU debt.

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment1 comments

  1. Name

outlet at 2012-07-05120.43.6.*
I will appropriate away grasp your rss as I can not in finding your e-mail subscription hyperlink or e-newsletter service. Do you're any? Kindly permit me realize so that I could subscribe. Thanks. outlet
  

Selections for you


  1. APF troops conduct comprehensive training

  2. Step one of delivering Chinese liquor culture

  3. Urumqi: A nice day in July

  4. Here comes hot summer in E China

Most Popular

Opinions

  1. Transition comes before democracy in Myanmar
  2. Vatican’s religious assertions tangled with politics
  3. Steady economy recovery key to int'l co-op
  4. China, US hold mixed attitudes toward each other
  5. China steps up moves in South China Sea
  6. New rules lay foundation for migrant law
  7. Economy on thin ice with suppressed interest rates
  8. China faces long-term regional annoyances
  9. Japan’s space law shift rattles regional nerves
  10. Experts call for an end to dispute over islands

What's happening in China

Education ministry issues summer safety warning

  1. Discipline official to combat financial corruption
  2. China to give private investment preferences
  3. Shenzhen OK'd to test freer use of yuan
  4. Rising stocks of coal fuel concerns
  5. Huading Award ceremony held in Beijing

China Features

  1. China will retain a high economic growth
  2. Why Chinese people love luxury goods?
  3. Official puts on airs in prison
  4. Beautiful scenery of Inner Mongolia Grassland
  5. Sharpshooter with excellent skills

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai