950829

Copper mixed

on uncertainty

in Shanghai

SHANGHAI: Shanghai copper futures ended mixed on market undertainty and trading was sluggish with many investors sidelined, traders said.

They said contracts opened lower on slight falls on the COMEX on Monday but gradually trimmed losses on short-covering, with prices moving in narrow ranges.

"Because there was no fresh news nor a clear market direction, institutions were not willing to enter the market," said one trader. "Investors were waiting for the end of an easing demand season."

Domestic demand normally eases in July and August.

Some analysts said they believed trading would regain activity in September when demand began to pick up.

Copper September 1995 contract was unchanged at 29,950 yuan ($3,600) per tonne, October dropped 60 to 30,140, November lost 20 to 30,250, December rose 20 to 30,380, January 1996 was down 10 to 30,400 and February remained unchanged at 30,400.

Volume decreased to 10,900 tonnes from 15,150.

Aluminium futures ended mixed. September was unchanged at 17,840 yuan per tonne and October rose 20 to 17,760, November rose 40 to 17,750 and December was unchanged at 17,710.

January 1996 contract dropped 50 to 17,650. Volume decreased to 4,925 tonnes from 8,000.-Reuter