(15/04) METALS-Shanghai copper to open lower; LME on 3-day losing streak

April 15, 2011

Shanghai copper is seen
opening lower on Thursday, and London copper headed for its
third straight day of losses, on concerns on further tightening
in China and normalisation of monetary policy in key developed
economies.
* Three-month copper on the London Metal Exchange
to $9,455 a tonne by 0041 GMT, on course for a third straight
day of decline.

* When Shanghai closed on Wednesday, LME copper stood at
$9,685.

* The market came under pressure when the Chinese government
vowed to use all tools at its disposal to fight inflation,
heightening fears of more tightening measures.

* LME copper stocks rose for a fifth consecutive session, up
3,225 tonnes to 449,925 tonnes, their highest since end of June
in 2010.