Shanghai copper up 2.9 percent, supply woes support

(Reuters) - Shanghai copper rose almost 3 percent on Monday, with the market shrugging off warnings from China that it will take further steps to cool the economy, and instead focused on threats to supply and limited world stocks.

The most-active August copper contract on the Shanghai Futures Exchange rose 2.9 percent to 64,930 yuan a tonne at the close, from 63,130 yuan on Friday.


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Copper Declines for Third Day on Speculation China's Demand May Tumble

(Bloomberg) -- Copper fell for the third-straight
day in New York on speculation that demand will slacken in
China, the world's biggest consumer of the metal.

China's imports in May might have dropped by the most in
three years after inventories increased and prices soared,
traders and analysts including Xue Feng at Maike Futures Co.
said. Stockpiles monitored by the Shanghai Futures Exchange more
than tripled this year as imports reached a record. Before
today, the price of copper climbed 19 percent in 2007.


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Shanghai copper off 0.9 pct on Chile pay agreement

(Reuters) - Shanghai copper eased nearly 1 percent on Monday after workers at a large copper mine in Chile voted to accept an early pay offer.

The most-active August contract on the Shanghai Futures Exchange fell 610 yuan or 0.92 percent to 65,520 yuan a tonne at 0101 GMT.


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