Shanghai copper hits record high on signs of tight concentrate supply
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Shanghai copper hit a record high on Friday due to tight concentrate supply and a weaker dollar. The most-active copper contract on the Shanghai Futures Exchange rose 3.5% to 98,550 yuan per metric ton. Top Chinese copper smelters refrained from setting guidance for processing fees for Q1 2026. China launched three venture capital funds to invest in hard technology areas, each with over 50 billion yuan. Investors expect more U.S. Federal Reserve interest rate cuts, weakening the dollar. Other SHFE base metals showed mixed performance.
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