[Ferro-Alloys.com] Shanghai Futures Exchange copper fell on on Wednesday August 7, as market participants remained hesitant ahead of the release of China’s July inflation figures on Friday.

 

The most-traded November copper contract settled at 49,980 yuan ($8,099) per tonne, down 100 yuan from the previous session. Downstream demand remained weak in China, which also weighed on copper prices. November copper trading volume shrank in the session to 269,160 lots, compared with 288,566 lots in Tuesday’s session, which was already a significantly smaller amount than recent trading ranges. Market participants will be closely monitoring the latest release of economic data from China’s National Bureau of Statistics (NBS).