Shanghai copper down

The most-active September copper contract on the Shanghai Futures Exchange fell 1.4 percent to 55,320 yuan to close at ($8,700) a tonne on Wednesday, after losing 0.2 percent in the prior session. "Prices went up late last week after the Chinese government first talked about policy fine-tuning to spur growth. It led to an equities rally and short-covering in metals, but that optimism is fading today, which is why prices have slipped," an analyst with an international trader said.