Metalnewsnet 16 Mar:

Prices for copper fell Monday amid speculation that China, a big importer of the industrial metal, will take steps to slow down its economy.

Some traders and investors are concerned that any efforts by China to curb inflation by controlling its economic growth could hurt a global recovery. China's annual legislative meeting ended without any policy changes that could have increased domestic consumption.

"The fact that metals are struggling suggests that investors are fretting more about demand, particularly as it relates to China," MF Global senior commodity analyst Edward Meir said.

RBC Global Futures analyst George Gero said he believes some hedging on future copper contracts can be traced to concerns that China may raise interest rates.

Meanwhile, investors were awaiting a Federal Reserve meeting Tuesday where there could be an indication of when U.S. rates might begin to rise.

Copper for May delivery fell 0.065 cents to close at $3.315 per pound. The price has fallen 10.5 cents from March 5 when it closed at $3.4175 a pound in the days following a devastating earthquake in Chile which sent prices climbing.

A stronger dollar and growing concern about demand sent energy prices falling.

Benchmark crude contracts for April delivery closed down $1.44 at $79.80 a barrel on the New York Mercantile Exchange after dropping as low as $79.16 earlier in the day.

In other Nymex trading in April contracts, heating oil fell 3.64 cents to close at $2.0576 a gallon, and gasoline dropped 3.22 cents to close at $2.2228 a gallon. Natural gas slipped by 0.9 cent to close at $4.391 per 1,000 cubic feet. It hit a 52-week low of $4.334 in earlier trading.

Gold for April delivery rose $3.70 to close at $1,105,40 an ounce and silver May delivery inched up 6 cents to close at $17.108 an ounce.

Grains were mixed. May wheat rose fell 6 cents to close at $4.7925 a bushel and corn fell 1 cent to $3.6325 a bushel. Soybeans rose 4.5 cents to close at $9.30 a bushel.

information from AP

Editor: KylinTse