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Copper sinks to lowest since 2009 at LME- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
1/13/2016 non-ferrous metals expo |
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Copper prices plummeted further on Monday to their lowest in 6-1/2 years as large losses on Chinese equity markets reinforced tarnished prospects for growth and demand in the world''s biggest consumer of industrial metals. Benchmark copper on the London Metal Exchange ended down 2.2 percent at $4,387 a tonne. The metal used in power and construction earlier touched $4,381, its lowest since May 2009.
Shanghai Futures Exchange copper slid by 2.6 percent to 34,770 yuan ($5,281) a tonne on Monday, to the weakest in a month.
Renewed selling on China''s share markets fuelled persistent concerns over China''s economic health and tarnished prospects for metals. China''s major stock indexes fell by as much as 5 percent on Monday after weak December inflation data, further souring sentiment towards metals, by fanning concerns Beijing was failing to shore up its economy.
-non-ferrous
metals- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
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