Shanghai copper pares gains

The most-traded August copper contract on the Shanghai Futures Exchange, which scaled a two-month top overnight, pared gains to trade at 48,310 yuan ($7,800) ($7,800), still up 0.3 percent on Thursday. Worries about bad debt continue to cast a shadow over China's economic health and the outlook for metals demand.
As China's economy continues to cool, companies are waiting longer and finding it harder to get paid for goods and services they've already sold, leading to record amounts of receivables - and potential write-offs - on corporate balance sheets.