Copper regains some lost ground

SHANGHAI: Copper regained some of its lost ground in Shanghai yesterday, following a rebound in China's stock market, but prices are likely to enter a period of consolidation as the market waits for seasonal demand to return.

The benchmark Shanghai Composite index ended down 0.7 percent, recovering from a 2 percent fall earlier in the day as concern eased over interest rate hikes.

"The upward trend in metals is intact, but is facing headwind. Prices are likely to move in a wide range in the next few months," said Fang Junfeng, an analyst at Shanghai CIFCO Futures.