Shanghai copper up

07 Aug, 2012

Copper was little changed on Monday after a better-than-expected US jobs report eased concern over growth in the world's biggest economy, and a fresh pledge by top metals consumer China to support growth also helped to support prices. The most-traded November copper contract on the Shanghai Futures Exchange rose 0.67 percent to close at 54,460 yuan ($8,500) per tonne.
"With the Q2 2012 earnings reporting season slowly fading out, the main market movers for this and next week are likely to be macro data, most importantly the industrial production data in Europe and China," Credit Suisse said in a note.

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