Shanghai Futures Exchange copper ended up 0.1 percent at 37,310 yuan ($5,536) a tonne on Thursday as steps by China to cool its real estate market, a key metals user, dampened buying interest. China's economy expanded at a steady 6.7 percent in the third quarter, partly fuelled by red-hot growth in property prices, which Beijing is now taking steps to cool down.
China's Guangzhou city will ramp up its monitoring of irregular activities in its property market, while developers in the city of Wuhan will be more closely scrutinised.
"Near-term, the market remains worried about the negative impact of cooling measures on the property market and the ramifications on steel and base metals demand, while steel and aluminium production is increasing," Helen Lau of Argonaut Securities said in a report. Meanwhile, global miner Rio Tinto on Thursday cut its 2016 guidance for iron ore shipments by as much as 5 million tonnes after releasing lower third-quarter production data, citing shipping interruptions.
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