Shanghai copper falls

The most-traded July copper contract on the Shanghai Futures Exchange fell as low as 57,740 yuan ($9,100) a tonne on Wednesday, a level not seen since January 12, before closing down 2.5 percent at 57,870 yuan. While the same trade data showed China's copper imports fell 4.6 percent from February to 462,182 tonnes in March, that import volume was the fourth highest on record.
"Our view is that underlying Chinese demand is still solid and we think it should pick up, heading into the second quarter," said Natalie Robertson, analyst at Australia and New Zealand Bank.