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SHFE metals prices fall as recession fears intensify

ABSTRACT

As of July 1, the most-traded copper, aluminum and nickel contracts on the Shanghai Futures Exchange (SHFE) had declined further on week by the end of the metals' daytime trading sessions that day, mainly as global recession worries have mounted, sources said, with the bearish sentiment causing nonferrous metals futures to trend further downwards.
By Friday, the SHFE's most-traded August copper contract slumped Yuan 2,800/tonne ($418/t) from the previous Friday's settlement price to close at Yuan 61,630/t at the end of daytime trading session.   Meanwhile, the August aluminum contract dropped Yuan 280/t during the same period to close at Yuan 18,900/t, while the August nickel

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