Shanghai zinc falls by 4pct limit, metals rout extends
SINGAPORE, Oct 9 (Reuters) - Shanghai zinc futures fell by their 4 percent daily limit on Thursday, extending losses, despite an unprecedented move by the world's central banks to shore up crumbling faith in financial markets.
Shanghai December zinc fell 515 yuan to 12,285 yuan, a new low for the benchmark contract and the third time in four days that zinc has touched its downside threshold, as worries about demand drive commodity prices lower.
A move by the U.S. Federal Reserve, the European Central Bank and central banks in Britain, Canada, Sweden and Switzerland to cut rates on Wednesday has done little to thaw credit markets or blunt forecasts for an economic downturn. (Reporting by Nick Trevethan; Editing by Anshuman Daga)
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