Copper falls

Melbourne : LME copper eased by 0.3 percent to $6,867 a tonne after 1.4 percent gains in the previous session when it topped out at $6,913 also the highest since late November.

Shanghai Futures Exchange copper traded last at 52150 yuan ($7,886).

Hedge funds and money managers cut their net long position in COMEX copper contracts in the week to Dec. 12, the latest data showed.

Shanghai nickel jumped 4 percent on Monday, tracking a move in London after China said it would cut duties on some steel exports, which raised expectations for demand.

Shanghai Futures Exchange nickel surged by more than 4 percent to its highest since Nov. 27, before settling at 93,310 yuan ($14,110) a tonne, a 3.7 percent advance. Prices rallied although open interest was steady, which suggests that short positions have been closed.