(13/04) METALS-Shanghai copper to open weak on London losses; LME rebounds

April 13, 2011

Shanghai copper was expected
to open lower on Wednesday, tracking losses in the previous
session, after Goldman Sachs issued another bearish note on oil
prices and the unfolding nuclear crisis in Japan keeping
investors nervous.

* Three-month copper on the London Metal Exchange
rebounded 0.4 percent to $9,667 a tonne by 0046 GMT, after
posting a 2.3 percent decline in the previous session, its
biggest daily loss in a month.
* When Shanghai closed on Tuesday, LME copper stood at
$9,750.
* The escalation of Japan's nuclear crisis is expected to
keep risk appetite in check, as Goldman Sachs told its clients
that it expected Brent oil to fall back towards $105 a barrel in
coming months after it urged its clients to take profit on
commodities on Monday.