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Shanghai Copper, Zinc Fall Sharply on LME Losses, Firm Dollar
MANILA, May 17 -- Shanghai copper and zinc futures fell sharply on Monday, chasing losses in London prices, as the euro hit a four-year low against the U.S. dollar on worries big spending cuts in the euro zone might choke off a fragile recovery there.
Shanghai's benchmark third month zinc SZNc3 fell by its 5 percent downside limit to 15,970 yuan per tonne by 0215 GMT, while copper SCFc3 was down 3.7 percent to 54,270 yuan.
Shanghai Copper, Zinc Fall Sharply on LME Losses, Firm Dollar
MANILA, May 17 -- Shanghai copper and zinc futures fell sharply on Monday, chasing losses in London prices, as the euro hit a four-year low against the U.S. dollar on worries big spending cuts in the euro zone might choke off a fragile recovery there.
Shanghai's benchmark third month zinc SZNc3 fell by its 5 percent downside limit to 15,970 yuan per tonne by 0215 GMT, while copper SCFc3 was down 3.7 percent to 54,270 yuan.
