Shanghai copper rises

The most-traded April copper contract on the Shanghai Futures Exchange rose to a near two-week high of 58,080 yuan ($9,300) on Monday, before ending the day up 0.3 percent at 57,860 yuan. It finished the year up 5 percent, following a 21-percent drop in 2011.
Copper rose on Monday on upbeat manufacturing data from top consumer China, but the uncertainty over whether US lawmakers will reach a last-minute agreement to avert a fiscal calamity kept gains in check. Shanghai copper has outperformed London recently, encouraged by renewed strength in the domestic stock market. The benchmark Shanghai Composite Index rose 1.6 percent on Monday, on course for a nearly 15-percent monthly gain, its strongest such rise since July 2009.