Shanghai copper closed down at its maximum 6 percent limit on Thursday while London prices fell for a fourth straight session on mounting fears an economic slowdown in the eurozone and the United States would erode demand for industrial metals.
The most-active January copper contract on the Shanghai Futures Exchange halted trading after tumbling by its daily limit of 50,950 yuan ($7,989.024) per tonne, a 16-month low, and closing the session at that price. It rose 0.4 percent in the previous session.
The Shanghai December lead contract falling as much as 5.3 percent to a session low of 13,700 yuan and the January zinc contract losing 5.6 percent at one point to its lowest since June 2010. The session also saw the Shanghai December aluminium contract shed more than 3 percent to a near 11-month low.
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