Shanghai copper down

02 Jun, 2012

The most-active September copper contract on the Shanghai Futures Exchange ticked down 0.4 percent to close at 54,330 yuan ($8,500) a tonne on Friday. China consumes about 40 percent of the world's copper and Friday's data may push Beijing towards further monetary policy easing.
Australia and New Zealand Bank said in a note it was expecting a 25 basis point cut in China's benchmark rates in June, and is keeping its call for two more cuts in banks' reserve requirement ratio for the remainder of the year.

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