Futures News
- Shanghai News
Date: 12-Mar-2007 Sources: (Shenzhen Daily)
SHANGHAI copper futures fell over 1 percent Friday and London Metal Exchange copper also gave up much of the previous day's gains as Chinese players locked in profits ahead of the weekend.
Shanghai copper for May delivery was down 1.1 percent, or 650 yuan (US$83.55), at 57,290 yuan a ton at the close Friday. 'In relation to London, Shanghai prices have been strong this week, but now they are reverting to more normal levels. I think its probably a combination of profit taking ahead of the weekend and maybe some producer selling,'a Shanghai dealer said Friday. Spot copper was between 57,650 yuan and 57,900 yuan, down 150 yuan.
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