Do More With Reuters
Partner Services

SHanghai copper, zinc 4 pct limit down after close-out

Fri Oct 10, 2008 6:48am IST
 
Email | Print | | Single Page
[-] Text [+]

SINGAPORE, Oct 10 (Reuters) - Shanghai copper fell by its 4 percent limit on Friday to its lowest in almost three years, despite a one-day suspension on Thursday and a forced ring-out, or closure of positions.

Zinc also fell by its limit. It had not not suspended.

Shanghai's benchmark copper contract SZNc3 fell 1,830 yuan at the open to 43,890 yuan, its weakest since December 2005. Zinc SZNc3 fell 495 yuan from Thursday's settlement to 11,825 yuan.

Both markets have hit their downside thresholds four times in five days since reopening after week-long Chinese holidays, chasing tumbling London futures which have plummeted by 18 to 25 percent in the past two weeks on fears of a global recession and slowing demand. (For more stories on the growing global financial crisis, click on [nCRISIS]) (Reporting by Nick Trevethan; Editing by Kim Coghill)

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

special coverage

Photo
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article