Print Print edition: 2011-05-07

Shanghai copper falls

Published Updated

Copper in Shanghai fell on Friday, tracking London prices that crashed to a five-month low in the previous session as part of a broader commodities sell off triggered by worries about economic growth. The most-active July Shanghai copper contract dropped 1.3 percent to 66,160 yuan by 0150 GMT, while London Metal Exchange copper for three-month delivery rose 0.6 percent to $8,870 a tonne, after plunging to $8,744.25 in the previous session.
"Shanghai copper's performance today is no doubt affected by the crash in prices in London last night. I see last night's commodity sell-off as a normal correction after a rapid rise in the prices over the past few months," Jinrui Futures Analyst Guo Yong said.