Copper prices fall in sell-off

Copper was at a six-month low in London Monday as prices fell as low as $7,315 per tonne for three-month contracts and it closed $90 to $7,410 per tonne while September copper dropped 4 cents to $3.29 per pound in New York.

The declines came on a sell-off prompted by a stronger US dollar and on weak industrial production that fed fears that demand will decline.

Nickel traded even in London at $18,050 per tonne, while aluminium was down $17 to $2,833 per tonne after exports from China were reported down in July, lead fell $49 to $1,925 per tonne and tin dropped $250 to $18,750 per tonne.

Zinc, on the other hand, added $5 to $1,690 per tonne, but not before dropping as low as $1,652 per tonne during the session.

Gold was down on the stronger dollar and on more declines in oil prices, with December gold falling $36.80 to $828.50 per troy ounce around the close of trade in New York, while September silver was down 68 cents to $14.65 per troy ounce.

In morning trade in New York, October platinum was $13.90 lower to $1,545.70 per troy ounce but palladium added $3.25 to $334 per troy ounce.