Three-month copper on the London Metal Exchange fell 1.1% to $7,352/t, its lowest level since July 22. The contract has also fallen 32% since the record it broke at $10,845/t in March.
With a strong dollar and high interest rates on the horizon, global economic growth also looks weak, threatening demand for industrial metals and suppressing prices.
On the LME, aluminum fell to an 18-month low of $2,151/t, zinc fell 0.4% to $2,995.50/t and tin rose 1.5% to $20,540/t.
On the Shanghai Futures Exchange, copper for October delivery fell 2.7% to 60,840 yuan/t ($8,500).
Rebar declines in Shanghai
Rebar futures in China slid after hitting an eight-day high in the previous session as traders prefer to wait and see if the fragile recovery in construction material demand can be sustained this week.
In addition to rebar, iron ore and other steelmaking inputs were also withdrawn.
The January rebar contract on the Shanghai Futures Exchange fell 0.2% to close at 3,762 yuan/t ($525) in the morning session.
The contract hit its highest level since Sept. 15 at 3,878 yuan/t on Friday as construction activity surged in China and pre-holiday demand rose.
Analysts said that September was disappointing for the construction industry, and emphasized that it is necessary to see if the promising construction steel trade volumes that emerged at the end of last week, while there is a week to vacation, continue.
Iron ore fell 2.6 percent, coking coal 1.1 percent and coke 0.6 percent on the Dalian Commodity Exchange.
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