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Progress in US-China trade talks, healthy data boosts SHFE base metals prices; copper up 1.1%

Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Monday April 1, with investor appetite for riskier assets improving amid continued progress in US-China trade talks and following the release of better than expected Chinese manufacturing data.

Copper outperformed its peers this morning; the red metal’s most-traded May contract on the SHFE rising to 49,350 yuan ($7,352) per tonne as at 9.58am Shanghai time, up by 1.1% or 550 yuan per tonne from Friday’s close of 48,800 yuan per tonne.

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