Last Updated :
16 March 2010 at 12:15 IST
China concerns hit global copper prices
LONDON (Commodity Online) : Global copper prices dropped on speculation that China, a big importer of the industrial metal, will take steps to slow down its economy.
On Monday, copper for May delivery fell 0.065 cents to close at $3.315 per pound.
The price has fallen 10.5 cents from March 5 when it closed at $3.4175 a pound in the days following a devastating earthquake in Chile which sent prices climbing.
Some traders and investors are concerned that any efforts by China to curb inflation by controlling its economic growth could hurt a global recovery.
China's annual legislative meeting ended without any policy changes that could have increased domestic consumption.
Meanwhile, investors were awaiting a Federal Reserve meeting Tuesday where there could be an indication of when U.S. rates might begin to rise.
A stronger dollar and growing concern about demand sent energy prices falling.
NCDEX REFSOYAOILINDOREJUN12 20 June 2012
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