Copper prices on Monday rose about one percent as it was supported by supply tightness in the global market, shrugging off the impact of a stronger dollar amid persistent eurozone debt worries. Shanghai's benchmark third-month copper closed up one percent at 62,310 yuan a tonne, after hitting a session low of 61,100 yuan.
Short-covering also helped prices to move upward, the trader added. Shanghai aluminium rose by 0.3 percent to 16,220 yuan. Shanghai Futures Exchange will raise margin requirement on all its contracts from the end of business on Monday, and increase fees on day trades, as an attempt to curb speculation in the market.
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