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SHFE copper prices recover on US-China trade war optimism, expectations of upstream tightness

Copper prices on the Shanghai Futures Exchange rebounded during morning trading on Friday March 29, with the red metal finding support from renewed trade optimism and bullishness arising from potential upstream supply tightness.

The most-traded May copper contract on the SHFE was at 48,680 yuan ($7,226) per tonne as at 10.35am Shanghai time, up by 0.7% or 320 yuan per tonne from the previous day’s close of 48,360 yuan per tonne.

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