Copper drops amid tightening concerns

SHANGHAI: Copper dropped for the fifth time in six days in London as concerns on monetary tightening in China escalated.

Copper for three-month delivery declined as much as 0.9 percent to $6,727 a metric ton on the London Metal Exchange, after gaining as much as 0.7 percent earlier.

The May-delivery contract on the Shanghai Futures Exchange fell for a fourth day, losing 0.3 percent to close at 54,300 yuan ($7,953) per ton.