Shanghai copper slips

30 Sep, 2014

The most-traded December copper contract on the Shanghai Futures Exchange cut early gains to fall 0.4 percent to 47,500 yuan ($7,739) a tonne on Monday pressured by a stronger dollar and questions over economic growth in top metals user China. "A strong dollar is no doubt part of it, that's also something that has been weighing on other commodities more generally," said analyst Daniel Morgan of UBS in Sydney. "The recent economic data out of Europe has been a little bit weaker, people have gotten a little more bearish on China ... and you've obviously got continual growth in mine supply which is coming on in the next 12-18 months."

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