Shanghai's benchmark third-month copper futures contract fell 30 yuan to 70,800 yuan a tonne on Wednesday. The discount for LME metal versus Shanghai continued to narrow, currently around 1,300 yuan, a third of the recent highs, stirring expectations that the arbitrage may open after the Chinese holidays starting February 2. Benchmark tin rose $105 to $28,300 a tonne, supported by the recovery in copper and persistent worries about supply.
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