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

Home>>China Business

Futures idle as markets await European bank meetings

By Michael Bellart (Global Times)

08:22, July 06, 2012

Chinese commodity futures inched up yesterday as the global markets remained quiet following Wednesday's holiday in the US and ahead of the central bank meetings in the EU and the UK.

The most traded copper contract on the Shanghai Futures Exchange (SHFE) closed just north of even at 55,980 yuan ($8,806.08) per ton. Other major domestic commodities followed copper's lead, closing near par for the day.

The benchmark three-month copper contract on the London Metal Exchange (LME) was trading at $7,729.50 per ton - up 0.1 percent - when Chinese markets closed.

Other major commodities remained in a holding pattern ahead of the European Central Bank (ECB) and Bank of England (BOE) meetings scheduled for late Thursday. Both institutions were expected to relax monetary policy, according to the Australian bank ANZ.

West Texas Intermediate (WTI) crude oil for August delivery traded steady over Wednesday night. The contract barely moved Thursday, trading at $87.06 per barrel when mainland markets closed. Comex gold for August delivery was trading at $1,616.10 per ounce as of the end of trading, up 0.2 percent for the day.


Leave your comment0 comments

  1. Name


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


  1. China, US hold mixed attitudes toward each other
  2. China steps up moves in South China Sea
  3. New rules lay foundation for migrant law
  4. Economy on thin ice with suppressed interest rates
  5. China faces long-term regional annoyances
  6. Japan’s space law shift rattles regional nerves
  7. Experts call for an end to dispute over islands
  8. Border conflict laid aside as giants draw closer
  9. Take wait-and-see approach to US sanctions
  10. Money not a panacea for small business problems

What's happening in China

Education ministry issues summer safety warning

  1. Shenzhen OK'd to test freer use of yuan
  2. Rising stocks of coal fuel concerns
  3. Huading Award ceremony held in Beijing
  4. Hand, foot, mouth disease kills 240
  5. Food safety becomes national priority

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