Copper tumbled nearly 4 percent on Monday, as a strong dollar, falling equities and a persistent weak demand outlook put a brake on an impressive rally which had taken the metal to a fresh 4-1/2 month high last week.
But copper, a key input in sectors such as construction and autos, is still heading for its biggest quarterly rise since June 2006 after three months of price boosts from short-covering, Chinese buying and inventory drawdowns.
London Metal Exchange copper for three months delivery fell to $3,920 a tonne in open outcry trade, versus $4,050 a tonne on Friday, when it hit a fresh 4-1/2 month high. It is up by around 29 percent so far this year.
