Markets
Copper drops to 7-week low on China tightening
(China Daily)
Updated: 2010-05-05 10:39
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MANILA - London copper fell to its weakest in seven weeks on Tuesday and Shanghai copper hit a two-month low on fears China may tighten monetary policy further and cause demand to thin from the world's top consumer of many base metals.
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"There is concern that policy tightening in China will mean that economic growth and, therefore, demand for metals in China would be less than it what otherwise would have been," said David Moore, commodity strategist at Commonwealth Bank of Australia.
Reuters
