Shanghai copper surges

Shanghai Futures Exchange copper surged 5.4 percent to 50,120 yuan ($7,282) a tonne on Monday driven up by supply worries after shipments were shut off from the world's two biggest copper mines. In Shanghai, zinc, lead and tin and nickel all climbed about 3 percent. More than 300 people wearing hoods vandalised property at the world's largest copper mine at the weekend and forced contract workers to stop work during an ongoing strike at BHP Billiton's Escondida in Chile. BHP on Friday said that it would not be able to meet its contractual obligations on metals shipments two days into what was gearing up to be a prolonged strike.