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COPPER Continues to Fall

London copper drops for 5th day in six, firm dollar weighs
London copper futures dropped for a fifth session out of six on Monday and stayed near 20-month lows, hurt by a firmer dollar and worries over slower demand in top consumer China.


* Three-month copper on the London Metal Exchange dropped 0.8 percent to $6,765.25 a tonne by 0133 GMT. The industrial metal lost nearly 4 percent last week, its biggest weekly loss in two months. It dropped to a low of $6,692 on Friday, its weakest since October 2011.


* The most-traded October copper contract on the Shanghai Futures Exchange was down 0.4 percent at 48,950 yuan ($8,000) a tonne.
* Data last week showing China's factory activity hit a nine-month low in June underlined worries over slower economic growth in China. There were also fears of a banking crunch after the Chinese central bank let short-term interest rates spike to extraordinary levels last week as it refused to inject funds into money markets.


* Rio Tinto said its plan to start exporting copper from the $6.2 billion Oyu Tolgoi mine on Friday has been delayed at the request of the Mongolian government, heightening investor concerns about the risks of mining in the country. MARKETS NEWS
* The dollar hit a fresh two-week high against a basket of major currencies as momentum builds after the Federal Reserve laid out a roadmap for scaling back stimulus. Asian shares were steady.

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