Shanghai prices fall further on bleak market outlook

摘要

China's copper prices continued their decline last week due to a loss of market confidence and on expectations of weaker demand in the face of a global financial slowdown, according to industry sources.rnMost copper futures prices on the Shanghai Futures Exchange reached their 5% downside limit at the open on October 22, following a 4% limit-down fall October 21. As a result, the exchange took the unusual step of suspending trade October 24.rnTraders said the exchange move was aimed at limiting copper prices from falling further. "The market sentiment is very bad due to weaker demand in China. Prices keep falling," one trader said.