Shanghai Futures Exchange copper fell half a percent to 38,560 yuan ($6,211) a tonne on Thursday as jitters resurfaced in China's share markets and as a dollar revival picked up pace on bets of a looming rate rise in the United States. Across other metals, Shanghai nickel and zinc , fell around 1.5 percent each, while tin eased 1.2 percent, shrugging off a disruption to Indonesian exports.
"We'll need to see how much more stimulus is thrown at it - if China throws a lot, at the end of the day, prices have to hold - China really needs growth," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance. "I really want to see a bottom in copper, but I don't have a high conviction we're there yet." In a sign consumer demand in China was brightening, bonded copper premiums jumped by $10 to $85, before steadying on Thursday, taking premiums up to the highest since mid March.
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