Shanghai copper opens steady, LME drifts lower

Tue May 27, 2008 9:35pm EDT

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            Shanghai             LME

           Now    Close      Now      Close Copper     
62220   62230    8165.00   8190.00
 Aluminium   19055   19095    2990.00   2996.00
 Zinc        17685   17680    2145.00   2151.00
 ----------------------------------------------------------

              MAY 28

               In the news > Chile, China working on Gaby
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demand worries         [nL27700752] > US copper ends lower as
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resolve Skorpion Zinc strike[nL27648751] > UPDATE 1-Russia
RUSAL seeks changes in Norilsk    [nL27735704] > New capacity
dampens Chinese aluminium prices     [nHKG164884] > Rio Tinto
sues Indonesia regional govt over mine p[nJAK282147]
 ----------------------------------------------------------
 * Shanghai August copper SCFQ8 opened at 62,220 yuan at 0102
GMT on Wednesday, versus 62,230 yuan at the previous close.
 * LME copper MCU3 down $25 at $8,165.
 * Shanghai aluminium SAFQ8 drifts down to 19,055 yuan from
19,095, while zinc SZNQ8 trades 5 yuan higher at 17,685
yuan.
 * Oversupply is keeping a lid on Chinese aluminium prices
which have risen 5 percent this year, LME metal has risen 25
percent in the same period.
 (Reporting by Nick Trevethan; Editing by Louise Heavens)