Shanghai copper falls

The most-traded June copper contract on the Shanghai Futures Exchange fell 0.60 percent to close at 56,530 yuan ($9,100) a tonne on Thursday. It earlier fell to 56,240, within reach of a three-month low of 56,060 yuan hit on Friday. "While the global environment is still hazy, markets appear to be betting on steadily improving growth," said Thomas Lam, chief economist at DMG & Partners Securities in Hong Kong.
"It's steady as she goes for China," he said, adding that the Lunar New Year effect weakened China's manufacturing figures early this year and these should not be taken as a signal of the scale of this year's copper demand. DMG sees China's economy growing at 7.7 percent this year.