Copper falls on growth worries

09:33, September 10, 2010      

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Copper declined on signs that US growth may be slowing and on a sell off in Chinese commodities after a report that regulators may be investigating large positions in Shanghai rubber futures.

The contract for three-month delivery dipped as much as 2.8 percent to $7,460 a metric ton on the London Metal Exchange, and traded at $7,553 in Shanghai on Thursday.

Copper for December delivery in Shanghai tumbled as much as 4.4 percent to 57,170 yuan ($8,424), and closed at 58,590 yuan a ton. Zinc and aluminum fell by the daily 5 percent limit to 17,190 yuan and 15,000 yuan in morning session, respectively.

Commodity prices in China declined on Thursday on market speculation that regulators were investigating large positions in natural rubber futures, the Securities Times said on its website.

Source:China Daily


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