Copper on SHFE follows New York dip

Copper prices on the Shanghai Futures Exchange (SHFE) slipped on Monday, following a drop in New York.

The most popular copper contract, for July delivery, settled about 0.7 percent lower at 70,960 yuan ($10,886) per ton at the close of trading. The contract opened at Friday's? settlement price.

The May copper contract on COMEX in New York fell 0.8 percent to $9,626.82 a ton, Reuters reported at 11:32 am Beijing Time.

The London Metal Exchange was closed on Monday for the Easter holiday. LME copper last traded at $9,681 per ton.

Copper on the Changjiang Nonferrous Metals Trading Market, a major spot metals market in Shanghai, traded on Monday at an average price of 71,525 yuan ($10,972) per ton, down 300 yuan ($46.02) from the previous session.

The July delivery aluminum contract remained steady, falling a fraction of a percent to settle at 16,805 yuan ($2,578) per ton on the SHFE. The June zinc contract continued slipping, falling 1 percent to 17,480 yuan ($2,681) per ton. The September delivery lead contract fell by 0.7 percent to settle at 17,980 yuan ($2,758) per ton.