Shanghai metals open 4 pct limit down after holiday

Shanghai metals fell by their 4 percent limits when the market re-opened on Monday after a week-long holiday, chasing steep losses in London futures.

The most active Shanghai copper contract SCFZ8, December, fell 2,150 yuan from the previous settlement on Sept. 26, to 51,210 yuan ($7,483) a tonne. Aluminium SAFZ8 and zinc SZNZ8 also shed 4 percent at the start of trade to 14,905 yuan and 13,670 yuan, respectively.

While Shanghai was closed, London Metal Exchange copper MCU3 lost 15 percent to $5,850, its biggest-ever weekly fall as investors tumbled out of commodities, driven by a surge in the dollar and growing worries that demand was slowing significantly. ($1=6.843 YUAN)

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