Shanghai copper falls, LME on Easter break

11 Apr, 2004

Shanghai copper closed lower on Friday in slack trade as its main reference point, the London Metal Exchange (LME), began the Easter break, traders said.
The most active October contract closed 190 yuan lower at 27,610 yuan ($3,336) a tonne, while most other contracts fell between 120 yuan and 270 yuan.
Volume dwindled to 73,230 lots from Thursday's 119,854 lots.
"Trade in London was weak on Thursday, and prices had eased a little by the kerb, and so Shanghai hasn't had a lot to get excited about," said one trader.
The LME copper contract was quoted at $2,872 a tonne at London's on Thursday kerb close, down slightly on the day. London markets are closed for the Easter holiday and trade will resume on Tuesday.
Spot copper in Shanghai remained largely unchanged, with the lower end of the range falling 20 yuan to leave prices moving between 27,660 yuan and 27,750 yuan per tonne.
Most Shanghai aluminium futures inched down between 10 and 80 yuan on Friday, with volume increasing to hefty 173,902 lots from Thursday's 155,764 lots. LME three-month aluminium was quoted at $1,749 a tonne at London's on Thursday kerb close, up $4 on the day.

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