China demand woes cap copper, aluminium stocks up

Copper hovered close to an eight-month low on Wednesday, shrugging off a U.S. bailout of troubled insurer American International Group (AIG), as investors fretted about demand from top consumer China.

'Base metals are weighed down by the view that the Chinese economy, and the construction sector in particular, will not recover until the second half of 2009,' analyst Max Layton at Macquarie Bank said.

He said sluggish Chinese demand dampened a spark of positive sentiment after the U.S. Federal Reserve eased jitters about the financial system, jumping in with $85 billion to rescue AIG was up $175 at $18,275.

Metal Prices at 1001 GMT

Metal Last Change Pct Move End 2007 Ytd Pct

move

LME Cu 6825.00 -45.00 -0.66 6670.00 2.32

SHFE Cu* 53350.00 170.00 +0.32 56880.00 -6.21

LME Alum 2531.00 1.00 +0.04 2403.00 5.33

SHFE Alu* 15985.00

-215.00

-1.33 18180.00 -12.07

COMEX Cu** 311.60 0.30 +0.10 303.50 2.67

LME Zinc 1725.00 -23.00 -1.32 2370.00 -27.22

SHFE Zinc* 14150.00 380.00 +2.76 18950.00 -25.33

LME Nick 17450.00 50.00 +0.29 26350.00 -33.78

LME Lead 1825.00 24.00 +1.33 2550.00 -28.43

LME Tin 18275.00 175.00 +0.97 16400.00 11.43 ** 1st contract month for COMEX copper * 3rd contact month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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