LME copper sags after copper futures on Shanghai Futures Exchange falls limit-down, traders moving to liquidate longs as "SHFE can't go down any further," says Singapore-based trader. Sentiment mixed, confused; market fund-driven rather than focused on fundamentals. "Analysts are right about making more bearish projections for the market, particularly lead and nickel, but the market isn't fundamentally driven. It's fund money," says trader. LME 3-month copper last trades at $7,610/ton, down $30 on Monday PM kerb after earlier intra-day low of $7,585, lead at $2,061, down $9, nickel at $49,500, up $450.
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