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METALS-Copper Ends off; Trade Digests Mixed China Signals

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Today's Range Mover Is Century Aluminum: A New Short-term Trading Range Above $11.28 Has Begun (CENX) 

NEW YORK/LONDON, Sept 10 (Reuters) &ndash;
Copper finished lower on Friday, 
suffering its first weekly decline in four weeks, as risk appetite waned and 
investors weighed mixed indicators of demand in China -- its potential to 
tighten monetary policy further versus strong import data. 
&nbsp; 
Copper for December delivery HGZ0 on the COMEX metals division of the New 
York Mercantile Exchange fell 3.70 cents to end at $3.4065 per lb, after 
dealing between $3.3950 and $3.4515.
For the week, the benchmark contract lost nearly 2.5 percent of its value 
for its first loss in four weeks. 
&nbsp; 
On the London Metal Exchange (LME), copper for three-month delivery CMCU3 
ended at $7,486 a tonne from a last bid at $7,554 a tonne on Thursday. 
&nbsp; 
The impetus behind the generally bearish mood in the market was news that 
Beijing had moved the release of key economic data for August to Saturday from 
Monday. 
&nbsp; 
The move sparked market speculation that the numbers could trigger a strong 
reaction in financial markets, with traders particularly concerned about a 
possible surge in China's consumer price index. ECONCN 
&nbsp; 
&quot;This may be an indication that we are looking at a Chinese rate hike,&quot; 
said Sterling Smith, an analyst for Country Hedging Inc. in Minnesota. 
&nbsp; 
&quot;If that in fact is the case, depending on what they do and how much they 
raise, it could be hard on copper,&quot; he said. 
&nbsp; 
Eugen Weinberg, an analyst at Commerzbank, agreed, but said that the 
overall fundamental environment was still very positive. 
&nbsp; 
&quot;Imports were strong not just for copper, but also for aluminum where China 
has returned to the status of net importer,&quot; he said. 
&nbsp; 
China's imports of unwrought copper and semi-finished copper products rose 
10.7 percent to 379,527 in August from 342,901 tonnes in July. Imports of 
unwrought primary aluminum, alloy and semi-finished products rose to 72,628 
tonnes from 67,462 tonnes in July.
&quot;China has been a bit of a mixed bag, but I think its demand for copper is 
going to remain strong, and they've managed to cool the economy with a measured 
approach. I can't see too much to be bearish about on the Chinese side,&quot; said 
Carl Firman, an analyst at VM Group.
Also helping the complex, the U.S. commerce department reported that U.S. 
July wholesale inventories rose 1.3 percent, beating forecasts and making for 
the largest jump since July 2008.
SIGNIFICANT HOLDINGS 
&nbsp; 
The market is also watching the steady decline in stocks of copper in LME 
warehouses, which have fallen about 30 percent since the middle of February to 
391,400 tonnes. 
&nbsp; 
Stocks of aluminum fell 5,100 tonnes to 4.4 million tonnes from a record 
high above 4.64 million tonnes in January. 
&nbsp; 
Aluminum CMAL3 ended at $2,100 a tonne from Thursday's last bid at 
$2,105. 
&nbsp; 
Three-month nickel CMNI3 ended at $22,500 a tonne from a last trade at 
$22,750 on Thursday, having earlier hit $22,951, its highest since mid-May. 
&nbsp; 
Lead CMPB3 was last bid at $2,183 a tonne from $2,201 on Thursday, zinc 
CMZN3 shed $43 to end at $2,110 a tonne and tin CMSN3 was last bid at 
$21,850 a tonne from $21,700. 
&nbsp; 
Earlier on Friday, tin touched $21,960 a tonne, its highest since early 
August 2008, for gain of some 30 percent since January. 
&nbsp; 
Prices have been boosted by worries about supplies from top exporter 
Indonesia. [ID:nLDE66I1UK] 
&nbsp; 
Metal Prices at 1904 GMT 
&nbsp; 
COMEX copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T 
&nbsp; 
Metal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Last&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change&nbsp; Pct Move&nbsp;&nbsp; End 2009&nbsp;&nbsp; Ytd Pct 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; move 
&nbsp;COMEX Cu&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340.60&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -3.75&nbsp;&nbsp;&nbsp;&nbsp; -1.09&nbsp;&nbsp;&nbsp;&nbsp; 334.65&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.78 
&nbsp;LME Alum&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2095.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -65.00&nbsp;&nbsp;&nbsp;&nbsp; -3.01&nbsp;&nbsp;&nbsp; 2230.00&nbsp;&nbsp;&nbsp;&nbsp; -6.05 
&nbsp;LME Cu&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7490.00&nbsp;&nbsp;&nbsp;&nbsp; -185.00&nbsp;&nbsp;&nbsp;&nbsp; -2.41&nbsp;&nbsp;&nbsp; 7375.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.56 
&nbsp;LME Lead&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2165.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -36.00&nbsp;&nbsp;&nbsp;&nbsp; -1.64&nbsp;&nbsp;&nbsp; 2432.00&nbsp;&nbsp;&nbsp; -10.98 
&nbsp;LME Nickel&nbsp;&nbsp; 22360.00&nbsp;&nbsp;&nbsp;&nbsp; -390.00&nbsp;&nbsp;&nbsp;&nbsp; -1.71&nbsp;&nbsp; 18525.00&nbsp;&nbsp;&nbsp;&nbsp; 20.70 
&nbsp;LME Tin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21450.00&nbsp;&nbsp;&nbsp;&nbsp; -250.00&nbsp;&nbsp;&nbsp;&nbsp; -1.15&nbsp;&nbsp; 16950.00&nbsp;&nbsp;&nbsp;&nbsp; 26.55 
&nbsp;LME Zinc&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2110.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -43.00&nbsp;&nbsp;&nbsp;&nbsp; -2.00&nbsp;&nbsp;&nbsp; 2560.00&nbsp;&nbsp;&nbsp; -17.58 
&nbsp;SHFE Alu&nbsp;&nbsp;&nbsp;&nbsp; 15670.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180.00&nbsp;&nbsp;&nbsp;&nbsp; +1.16&nbsp;&nbsp; 17160.00&nbsp;&nbsp;&nbsp;&nbsp; -8.68 
&nbsp;SHFE Cu*&nbsp;&nbsp;&nbsp;&nbsp; 58770.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170.00&nbsp;&nbsp;&nbsp;&nbsp; +0.29&nbsp;&nbsp; 59900.00&nbsp;&nbsp;&nbsp;&nbsp; -1.89 
&nbsp;SHFE Zin&nbsp;&nbsp;&nbsp;&nbsp; 17540.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -10.00&nbsp;&nbsp;&nbsp;&nbsp; -0.06&nbsp;&nbsp; 21195.00&nbsp;&nbsp;&nbsp; -17.24
 
 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 
 
 
 
&nbsp;

US Copper Settles Lower on China Rate Hike Fears

METALS-Copper Ends off; Trade Digests Mixed China Signals | Shanghai Non ferrous Metals

METALS-Copper Ends off; Trade Digests Mixed China Signals

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