Market and product

Shanghai aluminium jumps

04:06 PM @ Wednesday - 29 September, 2010
SINGAPORE (September 29, 2010) : Copper prices declined slightly on Tuesday in Shanghai and London, weighed down by a modest rebound in the dollar and lukewarm interest ahead of a week-long holiday in China, but demand prospects are seen to lend support. Benchmark third-month copper futures contract on the Shanghai Futures Exchange closed down 0.4 percent to 60,370 yuan.

Shanghai copper currently stood at a discount of 1,274 yuan to LME copper, discouraging buying interest from China. Shanghai aluminium reached 16,020 yuan, its highest since early May, before ending down 0.3 percent to 15,885 yuan a tonne.

(Source: Reuters)
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