Shanghai copper closed down on Wednesday, dented by weakness in the aluminium market and concerns over the government's measures to keep China's heady economic growth in check, traders said.
The most active October contract fell by 450 yuan to end at 23,750 yuan ($2,869), while other contracts lost between 440 and 830 yuan. Combined volume pared to 312,672 lots from huge 320,246 lots on Tuesday.
"Aluminium has dragged down copper, and people are still anxious about the potential negative impact of attempts to rein in the economy," said a trader in Shanghai. The market is expecting China to raise interest rates to cool an economy that grew 9.7 percent in the year through the first quarter.
Spot copper in Shanghai fell by 550 yuan and 730 yuan to move in a tight range of between 25,550 yuan and 25,570 yuan. Shanghai aluminium closed down on the day, with contracts losing between 320 and 640 yuan.
Volume leapt to 259,144 lots from 85,426 lots on Tuesday. LME aluminium was trading at $1,585/$1,590 a tonne on Wednesday's Asian trade, up from the London kerb close of $1,593 on Tuesday.
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