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LME copper, aluminium slip in thin China holiday trade
London copper eased on Monday, while aluminium extended losses for a third straight session as thin trade, with China out for a holiday, weighed on prices. The Shanghai Futures Exchange is closed for the Lunar New Year holiday that began on February 15 and trading will resume on February 24. The benchmark three-month copper on the London Metal Exchange, fell 0.5% to $12,810.0 a ton as of 0449 GMT, having dropped to a one-week low on Friday. LME copper may retest a support at $12,578 a metric ton this week, a break below which could trigger a drop into $11,545-$12,116 range, Reuters technical analyst Wang Tao said on ... (full story)
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