Copper loses gleam as greenback rallies

SHANGHAI: Copper in London fell to the lowest price in 10 weeks as the dollar's rally and China's limits on bank lending reduced the appeal of metals.

The contract for three-month delivery on the London Metal Exchange declined as much as 2.2 percent to $6,600 a ton, the lowest level since Nov 16. The metal posted the biggest monthly drop since December 2008 last week. London zinc, lead and tin hit multi-month lows and Shanghai copper tumbled the daily limit.

The dollar reached a six-month high against a basket of major currencies after a report showed the US economy grew at the fastest pace in six years. China took steps to curb lending last month in an effort to control credit growth and prevent asset bubbles.