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.