Shanghai Copper Futures Fall Near Limit on Concern U.S. Demand May Decline

(Bloomberg) -- Copper futures on the Shanghai
Futures Exchange fell by almost the maximum daily limit allowed
by the exchange on concern an economic slowdown in the U.S., the
second-largest consumer of the metal, will reduce demand. Zinc
futures also slumped.

Copper for October delivery fell as much as 2,790 yuan, or
4.1 percent, to 65,160 yuan ($8,611) a metric ton from the
previous close. The contract fell near the 4 percent limit
compared with the previous settlement price, and traded at 65,770
yuan a ton, down 3.2 percent, at 9:28 a.m. local time.


Read more at Bloomberg Commodities News

Copper Rises to One-Month High on Chile, Falling Stockpiles; Zinc Gains

(Bloomberg) -- Copper prices rose in Asia to a one-
month high on concern labor disputes in Chile, the world's
largest source of the metal, may disrupt supplies and further
deplete global stockpiles. Zinc was also higher.

Inventories monitored by the London Metal Exchange dropped
for a seventh straight day, by 1,650 metric tons to 110,375 tons,
the exchange said yesterday. Contract workers at Dona Ines de
Collahuasi, Chile's third-largest copper mine, plan to strike on
July 9 after they found an improved wage offer too low.


Read more at Bloomberg Commodities News