By Glenys Sim Nov. 11 (Bloomberg) -- Copper fell in Asia on concern the slowing global economy would damp demand for raw materials and extend rising stockpiles. Inventories monitored by the London Metal Exchange climbed to 260,850 metric tons yesterday, the highest since March 2004. Copper soared as much as 11.1 percent yesterday after China said it would spend $586 billion to maintain growth in the world's fourth-largest economy. ``We see the euphoria starting to wear off,'' Li Junchao, analyst at Shenyin Wanguo Futures Co., said today from Shanghai. ``China's plan to stimulate the economy by spending on infrastructure is a good one, however that's not to say we're going to see the same kind of growth we've experienced in the past few years.'' Copper for delivery in three months on the London Metal Exchange fell 0.7 percent at $3,850 a ton at 9:58 a.m. in Singapore. The metal used in buildings and power grids is down 42 percent this year as supplies have increased 32 percent. December delivery copper on the Comex division of the New York Mercantile Exchange lost 1.1 percent to $1.7335 a pound at the same time. Copper for January delivery on the Shanghai Futures Exchange fell as much as 4.3 percent to 29,660 yuan ($4,344) a ton, and stood at 29,780 yuan at 9:44 a.m. local time. The most-active contract fell below 30,000 yuan for the first time since June 2005 on Nov. 7. China announced the stimulus package Nov. 9 after finance ministers from the Group of 20 nations, of which China is a member, issued a joint statement saying they are ready to act ``urgently'' to tackle the economic slump. The stimulus plan, of which 100 billion yuan is earmarked for this quarter, will go toward low-rent housing, infrastructure in rural areas, as well as roads, railways and airports, China's State Council said. ``We view this as a positive step in helping the country to maintain growth,'' Richard Elman, chief executive officer of commodity supplier Noble Group Ltd., said in an interview today. Among other LME-traded metals, aluminum was up 0.8 percent at $2,001 a ton, zinc added 1.4 percent to $1,120, and nickel gained 3.9 percent to $11,750. Lead and tin had not traded as of 9:50 a.m. in Singapore. To contact the reporter for this story: Glenys Sim in Singapore at gsim4@bloomberg.net

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