Shanghai copper climbs

The most-traded June copper contract on the Shanghai Futures Exchange climbed 0.5 percent to 60,030 yuan ($9,500) on Friday. "At the moment, more and more people realise there is weak domestic demand in China, but market insiders are still not sure when it will recover, or the scope," said Grace Qu, analyst at CRU in Beijing. "In the short term, copper prices will face downward pressure, but I don't expect the price to decline sharply. I still think $8,000 is a support level," she added.
Traders said that there was scope for copper prices to fall further, as the market was in sell-the-rallies mode with China buyers reluctant to come to the table even at current level