Shanghai copper sags

The most-traded February copper contract on the Shanghai Futures Exchange sagged 0.4 percent to 45,910 yuan ($7,453) a tonne on Monday. A deluge of China data over the coming week is likely to show a persistent cooldown in the economy, adding to pressure for more stimulus measures. Copper premiums in Shanghai bonded warehouse recovered by $12.50 to $72.50 last week, data from Shmet showed, as traders bought on lower ShFE prices.
China's copper and crude oil imports rose around 5 percent in November from the preceding month, while soybean imports surged 47 percent, preliminary data from the General Administration of Customs showed on Monday. Hedge funds and money managers raised their net short positions in copper futures and options in the week to December 2, the Commodity Futures Trading Commission said on Friday.