MARKET REVIEW IN MARCH 2002

At the end of March, LME three months copper futures closed at US$1,652, up US$84 compared with US$1,568 at the end of February. Copper futures price was boosted by the encouraging USA macroeconomic data. But it bore the pressure of the high stocks and slack consumer offtake. Following the LME copper futures, the SHFE copper futures rose sharply with its benchmark 0207 closing at 16,260 yuan, up 400 yuan from the end of February. And other contracts finished 230 to 540 yuan higher.

LME Aluminum futures went up in early March, and then fell to US$1,403, a slight increase of US$2.5 compared with US$1,400.5 at the end of February. The SHFE aluminum followed the step of LME Aluminum, with its benchmark 0205 closing at 13,550 yuan, up 120 yuan from the end of February. The spot month contract fell 90 yuan. Other contracts finished 20 and 200 yuan higher.

The crude rubber futures closed higher in thin trade, with the main contract 0206 closing at 8,010 yuan, up 1,070 yuan. Other contracts closed between plus 920 and minus 30.