January 10, 2011
Copper prices fell Friday in New York and London on concerns by investors that China will continue to tighten monetary policy in order to contain inflation, which could end up cutting demand for copper and other base metals there.
February copper was down 5 cents to $4.28 per pound in New York trade, while three-month contracts for the metal used in manufacturing and construction dropped $60 to $9,415 per tonne on the London Metal Exchange.
Declines came as stockpiles monitored by the London Metal Exchange were up for the 17th consecutive session, while inventories monitored by the Shanghai Futures Exchange were at their highest levels in six months.
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