(31/03) METALS-Copper steady before end-quarter; Mideast, Japan weigh

March 31, 2011

London copper held steady on
Wednesday ahead of the end of the quarter and investors
exercised caution amid ongoing crises in the Middle East and
Japan.
Concerns on demand from top copper buyer China linger, as
high stockpiles are likely to curb buying for the time being.
"There is nothing exciting in the market," said a
Shanghai-based trader, "Unless we see heavyweight news, trading
will remain thin in the next couple of days as the first quarter
comes to an end."
Three-month copper on the London Metal Exchange
edged down $4.5 to $9,585.50 a tonne by 0701 GMT. Shanghai's
most-active copper futures contract SCFcv1 gained 0.7 percent
to 71,300 yuan.