Shanghai copper climbs

The most-traded August copper contract on the Shanghai Futures Exchange climbed 0.2 percent to 47,730 yuan ($7,700) a tonne on Friday. The trail that led investigators to a suspected metal financing scam at China's Qingdao port which has spooked Western banks and hit global metals prices began with a Communist Party corruption probe 1,000 miles away in the old Silk Road city of Xining.
ShFE zinc also slid 1.4 percent, tracking overnight losses in London that were fuelled by technical selling. "Do not be surprised to see price weaken further before a support can be found... until the prices consolidate they will remain vulnerable and expect dip buying," said broker Triland on zinc in a note.