Shanghai copper falls 4 percent on demand worries

By Nick Trevethan

SINGAPORE, Dec 16 (Reuters) - Shanghai copper futures fell by their four percent limit on Tuesday, after coming within a hair of their upside threshold in the previous session, as optimism about plans to boost China's economy gave way to pessimism about demand.

Shanghai futures dropped 4 percent or 990 yuan to 23,540 yuan a tonne, while London Metal Exchange copper fell 3.2 percent or $100 to $3,0701.

On Monday, London prices rallied over 3 percent in Asian trading on hopes that plans by China to boost money supply by 17 percent would stir demand.  

Last Updated: December 16, 2008 10:52 Beijing Time