METALS-Shanghai copper edges up on tight physical supply

In China, mineral and metals firms which suffered losses
and carried heavy inventories were cheered after the country's state reserve system kicked off a board purchase plan to support the industry. Top Chinese tin producer Yunnan Tin 000960.SZ has proposed selling 30,000 tonnes of tin ingots to Yunnan province for its planned base metal reserves [nHKG30684], following China's State Reserves Bureau (SRB) agreement to buy about 300,000 tonnes of aluminium. 

 Metal Prices by 0333 GMT:
 Metal         Last       Change   Pct Move  End 2007  Pct chg 08
 LME Cu        2910.00      5.00     +0.17    6670.00  
-56.37
 SHFE Cu*     22970.00     60.00     +0.26   56880.00  
-59.62
 LME Alum      1522.00     11.00     +0.73    2403.00  
-36.66
 SHFE Alum*   11250.00    -10.00     -0.09   18180.00  
-38.12
 COMEX Cu**     129.70      0.00     +0.00     304.10  
-57.35
 SHFE Zinc     9730.00    -45.00     -0.46   18950.00  
-48.65
 LME/Shanghai arb^           346
 Dollar/yuan          6.8481 \ 6.8491
 ** 1st contract month for COMEX copper
  * 3rd contact month for SHFE aluminium, copper and zinc   ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE  third month

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.