Policy fears weigh on copper prices

SHANGHAI: Copper prices were steady yesterday, but remained under pressure from the firmness in the US dollar, as well as fears of further policy tightening in China and proposed US bank regulations.

A series of moves from China to limit excessive liquidity has triggered a 6-percent decline in London copper prices from their peak of $7,796 a ton in early January.

"Metals prices are stuck in the conflicts - if prices rise much higher, policy may become tighter, but when prices fall buying interest emerges," a Shanghai-based trader said.