(02/04) BASE METALS: Shanghai Metals Narrow Gains Ahead Of Holiday

April 02, 2011

Base metals on the Shanghai Futures Exchange settled mostly higher Friday, although profit-taking ahead of a long weekend narrowed some early gains.

Data showing a moderate rebound in Chinese manufacturing in March didn't trigger much buying in metals, as the rises in purchasing managers indexes indicated that inflation remains high and there is still room for Beijing to implement more tightening measures.