The most-active November copper contract on the Shanghai Futures Exchange fell 0.2 percent to close at 66,700 yuan per tonne on Thursday. "In the short term, I think copper is range-bound between 63,500-67,500 yuan on the ShFE and $8,600-$9,000 on the LME," Jinrui Futures analyst Zhao Kai said. LME third month copper is trading at a 127-yuan discount to the ShFE November contract, taking into account China's 17 percent VAT.