MARKET REVIEW IN SEPTEMBER 2002

In September, the world metal market wandered within a narrow range around the bottom due to slack demands and the uncertainty of a US attack on Iraq. Under this global influence, Shanghai metal futures were bounded in the low range. In September, copper futures lost around RMB 300 yuan. Most aluminum futures gained around RMB 100 yuan. Rubber futures remained at their higher price for lack of impetus from fresh news. At the end of September, the most active copper contract, 0301, reached RMB 14,840 yuan, losing RMB 330 yuan; that of aluminum, 0301, gained RMB 40 yuan to reach RMB 13,300 yuan; and that of rubber, 0301, ended up with RMB 9,800 yuan, losing RMB 60 yuan.