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Shanghai copper closed down on Tuesday after investors cashed in their holdings as the market continued to languish, traders said.
The most active October contract closed 140 yuan lower at 26,900 yuan ($3,250) a tonne, while other contracts fell between 110 yuan and 470 yuan. Volume was largely unchanged at 151,622 lots from Monday's 150,236 lots.
"Comex closed down on Monday, so when Shanghai opened this it had nothing positive to go on," said one trader. "It hovered for a little and then people went into sell mode."
The LME copper contract was quoted at $2,832/$2,838 a tonne on Tuesday's Asian trade, down from the start of the morning. The LME was closed on Friday and Monday and ended on Thursday's kerb at $2,872.
Spot copper in Shanghai fell 30 yuan to leave prices moving between 27,020 yuan and 27,100 yuan per tonne, in line with futures.
Shanghai aluminium futures ended mixed on Tuesday with some contracts gaining up to 30 yuan and others shedding between 10 and 20 yuan.
Volume increased a little to 134,278 lots from Monday's 128,012 lots.
LME three-month aluminium was quoted at $1,736/$1,740 in Asian trade on Tuesday, steady from the start of the day but lower than its on Thursday kerb close of $1,749 in London.

Copyright Reuters, 2004

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