Copper prices open lower on firm dlr, economy woes

LME Shanghai

Now Close Now Close
Copper 3700.00 3820.00 29400 30000
Aluminium 1935.00 1925.00 13635 13700
Zinc 1185.00 1200.00 9585 9710

Nov 17

In the news > Copper ends up 5 pct,
gains cut on Wall St slide [nLE263339] > Indonesia's Timah
sees tin output flat in 2009 [nSP238427] > Ormet plans to
cut costs, improve aluminium output[nN14300949] > US commods'
net longs down 67 pct from previous we[nN14446017] > Russia
Norilsk sees demand falling, level off in '0[nLE435465] >
Broker Sucden's new futures fund targets $300 mln [nLE754981]
> China adjusts taxes as export worries weigh
[nSP54631] > Spot TC/RCs paid to China copper smelters rise
[nLE358712] > COLUMN-China boosts infrastructure spending: John
Ke[nLE36999]
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* London copper futures fell 3.1 percent on Monday,
reversing Friday's 5 percent gains, chased lower by Shanghai as
commodity markets succumbed to profit taking in light of the
strengthening dollar.

* Adding to the bearish pressure was GDP data from Japan,
showing the world's second-biggest economy was in recession.
[ID:nTKU003187]

* London Metal Exchange copper MCU3=LX for delivery in
three months fell $120 to to $3,700 a tonne at 0101 GMT, while
Shanghai's most active copper contract SCFc3 dropped 2
percent to 29,400 yuan ($4,309).

* On Friday, Shanghai copper leapt by its 4 percent limit
and London metal climbed 6 percent following a strong rebound
on Wall Street.

* The yen and dollar pushed higher after a G20 meeting on
the financial crisis ended. Governments from Washington to
Beijing agreed on Saturday to a raft of fiscal and monetary
steps to rescue the global economy, [ID:nN16483348]
(Reporting by Nick Trevethan; Editing by Kazunori Takada)