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MARKET TALK:Shanghai Copper Pulled Down By Aluminum Fall

Monday, Oct 30, 2006
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Copper on Shanghai Futures Exchange down more than 1%,dragged lower by aluminum's losses and likely to face further pressure given rising inventories,says Maike Future's Haihua Shen;benchmark December contract down CNY810 at CNY69500/ton."Sentiment was impacted by the sharp fall of aluminum" in reaction to China's hiking aluminum export tariff to 15% from 5%;thin copper volumes "exaggerating the price fall," but increase of LME inventories weakening fundamentals,funds turing to zinc given its falling stock levels.

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