Shanghai aluminium 4 pct limit down as metals slump

Shanghai aluminium fell by its 4 percent daily limit on Tuesday and London futures extended losses as the turmoil in financial markets washed over commodities.

Shanghai aluminium SAFX8 fell 670 yuan from Monday's settlement, to 16,060 yuan ($2,345) a tonne by 0530 GMT, while London Metal Exchange aluminium MAL3 fell $12 or 0.5 percent to $2,555, following Monday's 3.7 percent losses.

Other base metals also fell and equity markets were reeling after Lehman Brothers (LEH.N: Quote, Profile, Research) filed for bankruptcy over the weekend. ($1=6.848 Yuan)

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