Shanghai copper drifts lower

Copper prices fell nearly one percent on Thursday, dragged down by a sluggish performance in Shanghai amid a liquidity drain towards the year end and a bout of profit-taking after the recent rally. Shanghai's benchmark third-month copper declined 0.6 percent to 68,260 yuan ($10,268) a tonne. A correction would likely take place, but buying would emerge if copper prices dropped to levels around 65,000 yuan on the Shanghai market, he added.
Shanghai aluminium rose to 16,815 yuan a tonne, its highest since mid-November, before easing to 16,720 yuan a tonne. LME aluminium pulled back slightly from a 1-1/2 month peak of $2,469 hit on Wednesday, trading at around $2,448.