| Copper prices slid on Monday on prospects for slowing demand in top consumer China, reinforced by last week's move to weaken the yuan, and a higher dollar. Benchmark copper on the London Metal Exchange was untraded at the close but was bid down 1 percent at $5,114 a tonne from $5,170 on Friday. The metal, used in power and construction, plunged to a six-year low of $5,062 last week.
China's yuan posted its biggest weekly loss on record after the central bank's surprise move to devalue its currency, seen as a bid to boost exports and growth. But the move was also taken as a sign that Chinese authorities are seriously concerned about an economic slowdown turning into a hard landing...............................................Full Article: Source
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