Shanghai copper flat

Shanghai Futures Exchange copper ended flat at 52,950 yuan ($7,980) a tonne on Monday amid a slightly firmer dollar, supported after a report showed China's property sector, a major metals consumer, remained resilient last month. China's new home prices rose at a slightly faster pace in October after gains had held steady the previous month, as prices remained resilient in the face of falling sales and a tighter liquidity environment.
"We are of a view that China's underlying fundamentals in the property sector remain sound," said Argonaut in a report. "This confirms our view that (any) commodity price rout during the weak winter season in China would be short-term ... We recommend buy on weakness."