Copper prices fell to a one-month low

Risk aversion returned to the European and U.S. financial markets, the impact of Friday and Monday between the U.S. dollar exchange rate soared to a six-month high, also affected the international copper futures price fell for two consecutive sessions, and fell to a one-month low. The failure of the G7 meeting over the weekend to come up with a solution to the world's economic problems dented market confidence.

Copper for delivery in three months ended the day down $66.50 at $8,755 a tonne on the London LME, after falling as low as $8,620, the lowest since August 11. COMEX's main December contract fell 3.70 cents to $3.9655 a pound from an intraday low of 3.9050.

European central bank (ECB) executive board member and chief economist jens stark resigned on Sept. 9 after a disagreement with the bank's bond-buying program. Analysts said stark's resignation was a sign of deep divisions within the ECB over its bond-buying program, a move that could undermine confidence in the euro zone authorities' response to the region's debt crisis.

Codelco, the world's largest copper miner, said on Monday that some customers in the U.S. and Europe had applied to cancel contracts to buy copper in recent days, fearing a slowdown in the global economy would lead to a drop in demand. But some in the market believe they may be just trying to negotiate a lower price during the peak demand season.

However, preliminary data released by the general administration of customs on September 10 showed that China imported 344,400 tons of unwrought copper and copper materials in August, up from 306,600 tons in July, and the volume of imports has been rising for several months. (yicai.com)