Copper Futures in Shanghai Jump 5% Limit to 28,140 Yuan a Ton

By Glenys Sim

Jan. 12 (Bloomberg) -- Copper futures jumped by the exchange-imposed 5 percent daily limit in Shanghai as some investors stepped up arbitrage trading to take advantage of the price gap between London and Shanghai.

Copper for March delivery on the Shanghai Futures Exchange rose 1,340 yuan from the previous settlement price to 28,140 yuan ($4,117) a metric ton.

London Metal Exchange copper gained as much as 3.2 percent to $3,510 a ton, and traded at $3,500 a ton at 9:25 a.m. Singapore time.

To contact the reporter for this story: Glenys Sim in Singapore at gsim4@bloomberg.net