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    <title>Business Recorder - Markets - Commodities</title>
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    <copyright>Copyright 2026</copyright>
    <pubDate>Thu, 13 Aug 2026 16:03:18 +0500</pubDate>
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      <title>Shanghai copper sheds 1 percent as Japan crisis weighs</title>
      <link>https://www.brecorder.com/news/7405/shanghai-copper-sheds-1-percent-as-japan-crisis-weighs</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/mar/copper-bar.jpg" width="400" height="302" /&gt;SINGAPORE: Copper prices lost 1 percent in Shanghai on Thursday, reversing a 3 percent gain in the previous session, on fears that a worsening nuclear crisis in Japan would hurt the global economy.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Japan, in a battle to avert catastrophe, sent military helicopters to douse overheating reactors at a nuclear power plant hit by last week's earthquake.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"The market sentiment remains fragile," said Lin Yuhui, deputy general manager at Jinhui Futures. "The impact of the nuclear crisis is still unknown, but it will sure take a huge toll on the economy."&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Japan said the damage from last week's devastating earthquake to the economy would be limited, but bigger than the 20 trillion yen ($255 billion) bill from the 1995 earthquake that hit the city of Kobe. Three-month copper on the London Metal Exchange  edged down 0.4 percent at $9,225 a tonne by 0701 GMT, after posting its biggest one-day rise in 2-1/2 weeks on Wednesday.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Shanghai's most-active copper futures contract lost 1 percent at 69,810 yuan ($10,623).&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"There has some buying from the Chinese -- some found the current price level decent for import pricing, others just put in speculative bids," said a Shanghai-based trader.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"It may go on for a bit, but whether we'll see copper prices strengthen again eventually depends on the prospects of the global economy."&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The even looser monetary policy adopted by the Japanese central bank after the massive earthquake and tsunami hit last Friday could potentially benefit metals, Lin said.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;LME aluminium gained 0.7 percent at $2,476, after dropping to $2,452 on Wednesday, its lowest since late January.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Shanghai aluminium lost 0.8 percent at 16,525 yuan.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Japan's benchmark Nikkei share average ended down 1.4 percent, reversing a 4 percent rally in the previous session, as the Japanese yen surged to a record high.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Indonesia's state-owned PT Timah , the world's largest integrated tin miner, has no shipments scheduled for quake-hit Japan this month under its 2011 term contracts, and is awaiting further information from its Japanese buyers, an official said on Thursday.     LME tin fell by 0.7 percent at $28,400.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;&lt;Center /&gt;&lt;b&gt;&lt;i&gt;Copyright Reuters, 2011&lt;/b&gt;&lt;/i&gt;&lt;br /&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/mar/copper-bar.jpg" width="400" height="302" />SINGAPORE: Copper prices lost 1 percent in Shanghai on Thursday, reversing a 3 percent gain in the previous session, on fears that a worsening nuclear crisis in Japan would hurt the global economy.</p>
<p class="MsoPlainText">Japan, in a battle to avert catastrophe, sent military helicopters to douse overheating reactors at a nuclear power plant hit by last week's earthquake.</p>
<p class="MsoPlainText">"The market sentiment remains fragile," said Lin Yuhui, deputy general manager at Jinhui Futures. "The impact of the nuclear crisis is still unknown, but it will sure take a huge toll on the economy."</p>
<p class="MsoPlainText">Japan said the damage from last week's devastating earthquake to the economy would be limited, but bigger than the 20 trillion yen ($255 billion) bill from the 1995 earthquake that hit the city of Kobe. Three-month copper on the London Metal Exchange  edged down 0.4 percent at $9,225 a tonne by 0701 GMT, after posting its biggest one-day rise in 2-1/2 weeks on Wednesday.</p>
<p class="MsoPlainText">Shanghai's most-active copper futures contract lost 1 percent at 69,810 yuan ($10,623).</p>
<p class="MsoPlainText">"There has some buying from the Chinese -- some found the current price level decent for import pricing, others just put in speculative bids," said a Shanghai-based trader.</p>
<p class="MsoPlainText">"It may go on for a bit, but whether we'll see copper prices strengthen again eventually depends on the prospects of the global economy."</p>
<p class="MsoPlainText">The even looser monetary policy adopted by the Japanese central bank after the massive earthquake and tsunami hit last Friday could potentially benefit metals, Lin said.</p>
<p class="MsoPlainText">LME aluminium gained 0.7 percent at $2,476, after dropping to $2,452 on Wednesday, its lowest since late January.</p>
<p class="MsoPlainText">Shanghai aluminium lost 0.8 percent at 16,525 yuan.</p>
<p class="MsoPlainText">Japan's benchmark Nikkei share average ended down 1.4 percent, reversing a 4 percent rally in the previous session, as the Japanese yen surged to a record high.</p>
<p class="MsoPlainText">Indonesia's state-owned PT Timah , the world's largest integrated tin miner, has no shipments scheduled for quake-hit Japan this month under its 2011 term contracts, and is awaiting further information from its Japanese buyers, an official said on Thursday.     LME tin fell by 0.7 percent at $28,400.</p>
<p class="MsoPlainText"><Center /><b><i>Copyright Reuters, 2011</b></i><br /></center></p>
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      <category>Markets</category>
      <guid>https://www.brecorder.com/news/7405</guid>
      <pubDate>Thu, 17 Mar 2011 08:53:04 +0500</pubDate>
      <author>none@none.com (Abdul Ahad)</author>
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