Shanghai copper fall capped as Feb imports plunge

Copper slipped on the Shanghai Futures Exchange on Monday, reflecting global investors’ moves to avoid risk with Libya under air strikes, Japan in its worst post-war disaster and China still in monetary tightening. However, prices gained some support as refined copper imports for February fell to a multi-year low of 158,200 tonnes, 36% down from January and 28% down year-on-year, according to customs data released in the afternoon. The benchmark SHFE June copper contract fell by just 0.5% from last Friday to close.