Copper, Zinc, Nickel Tumble as Inflation May Prompt Tightening
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Copper fell to the lowest in more than a week on concern rising inflation will lead China and the European Union to tighten monetary policy, curbing demand. All other base metals except aluminum also declined.
Three-month-delivery copper dropped as much as 1.6 percent to $9,346.25 a metric ton on the London Metal Exchange, the lowest since Feb. 24. The contract traded at $9,448 at 4:30 p.m. in Singapore, extending a 4 percent slump yesterday. In Shanghai, May-delivery metal dropped 4.2 percent to 71,070 yuan ($10,820), the biggest decline for the most-active contract since Nov. 17.