Shanghai copper flat

22 Oct, 2010

London copper edged lower on Thursday and Shanghai ended nearly flat after Chinese data showed stronger third-quarter growth than expected, following Beijing's surprise rate hike this week, and gains in the dollar weighed. The benchmark third-month futures contract on the Shanghai Futures Exchange closed up 40 yuan at 62,690 yuan a tonne, off one-week low of 61,900 yuan hit on Wednesday.
LME copper stood at a premium of 1,757 yuan to Shanghai copper. Shanghai zinc rose two percent to 19,680 yuan a tonne.

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