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Copper price continues to fall

(China Daily)
Updated: 2006-07-22 10:08

Copper prices continued to slide on the Shanghai Futures Exchange on Friday on fears of rising inflation after minutes of the US Federal Reserve's last meeting and comments from the Fed's chairman suggested it is close to halting two years of interest rate increases.

Copper for delivery in October fell to its daily allowed limit of 63,850 yuan (US$7,980) a ton on opening at the exchange on Friday, slipping 2,670 yuan (US$334) or 4 per cent from Thursday's settlement price. It stayed at that level throughout the trading session.