Shanghai copper opens little changed, imports fall

Shanghai LME

Now Close Now Close
Copper 62280 62330 8245.00 8240.00
Aluminium 18970 18950 3010.00 3020.00
Zinc 18065 18160 2200.00 2205.00
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MAY 22

In the news > Stocks, supplies weigh on
copper, aluminium up [nL21172562] > China April refined
copper imports fall 31 pct on [nSGE000017] > Demand
uncertainties keep U.S. copper on defensive[nN21520470] >
Mexican miners threaten one-day strike over leader[nN21439364]
> Freeport sees strong copper despite high energy
[nN21585071]
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* Shanghai August copper SCFQ8 opens at 62,280 yuan on
Thursday, down from 62,330 yuan ($8,956) at the previous close,
but shrugs off steeper overnight falls in London.
* London Metal Exchange copper MCU3 up $5 at $8,245 by 0103
GMT after shedding 1 percent overnight. Inventories rose 2,300
tonnes to 124,950, mostly on deliveries to Busan, South Korea.
The cancelled warrant ratio eased to 13.6 percent.
* Chinese imports of refined copper fell 31 percent in April
from a year earlier to 127,977 tonnes. March imports were
126,421 tonnes.
* Aluminium MAL3 down $10 at $3,010. Stocks rise a modest
3,900 tonnes after 4,500 tonnes landed in Detroit on Wednesday.
The pace of deliveries slow from five-digit increases on both
Monday and Tuesday as the metal was warranted in the LME's
newly approved Mobile, Alabama, warehouse location.
($1=6.959 Yuan)
(Reporting by Nick Trevethan; Editing by Anshuman Daga)