China base metal prices tumble after US credit downgrade

Updated: 2011-08-08 11:48

(Agencies)

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SHANGHAI - Shanghai copper opened sharply lower on Monday after the downgrade of US credit ratings by Standard & Poor's over the weekend, while London copper extended losses, Reuters reported.

The most active October copper contract on the Shanghai Futures Exchange SCFcv1 opened 1.6 percent lower at 67,460 yuan.