Copper prices on the Shanghai Futures Exchange (SHFE) extended their rally Thursday, following a jump on the influential London Metals Exchange (LME) Wednesday.
The most active copper contract, for July delivery, settled about 1 percent higher at 71,390 yuan ($10,951) per ton at the close of trading. The contract opened down 0.1 percent from Wednesday's settlement price, only to continue to push higher throughout the day.
The three-month LME copper contract rose 2.5 percent in Wednesday's session, and continued to rise. The price stood at $9,619 as of 4:30 pm Beijing time Thursday.
Copper on the Changjiang Nonferrous Metals Trading Market, a major spot metals market in Shanghai, traded Thursday at an average price of 71,825 yuan ($11,018) per ton, up 425 yuan ($65.19) from the previous day.
The July delivery aluminum contract stayed steady, rising 0.1 percent to settle at 16,845 yuan ($2,584) per ton on the SHFE. Meanwhile, the June zinc contract added 0.3 percent to settle at 17,820 yuan ($2,733) per ton.
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