Shanghai copper up 2.4 pct, LME in sight of $8,000

(Reuters) - Shanghai copper rallied more than 2 percent on Tuesday following a 2 percent surge in London futures to a seven-week high as the dollar fell and threats to supply focused attention on limited metal stocks.

The most-active September copper contract on the Shanghai Futures Exchange rose 2.4 percent or 1,540 yuan to 65,810 yuan a tonne at 0212 GMT.


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Equity plunge drags Shanghai copper down 1.9 pct

(Reuters) - Shanghai copper shed nearly 2 percent on Monday and dragged London futures lower after China's main equity market tumbled over 4 percent on concerns that the government would do more to curb growth.

The most-active September copper contract on the Shanghai Futures Exchange was down 1,210 yuan, or 1.9 percent, at 63,050 yuan at the close.


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Copper Slumps to Seven-Week Low on Speculation Chinese Stockpiles May Gain

(Bloomberg) -- Copper futures in New York tumbled
more than 3 percent to a seven-week low on concern that metal
inventories in China, the biggest consumer, will climb,
signaling excess supplies.

Stockpiles monitored the Shanghai Futures Exchange have
more than tripled in 2007 to the highest in three years. The
exchange will release its weekly inventory report tomorrow.
Copper has fallen 10 percent this month on concern that growing
supplies in China will lead to a widening surplus of the metal
used in wires and pipes.


Read more at Bloomberg Commodities News