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Copper in Shanghai fell for the fourth straight day to settle at its lowest in more than three months as charts some traders use to predict price moves signaled further declines may be in store.

Prices of the metal haven fallen 7.5 percent since the close of Nov. 10 amid speculation that demand may ease from China and the U.S., the world's biggest users. The decline has taken Shanghai copper to below 65,000 yuan ($8,260) a metric ton, a level considered as a support, or points where buy orders cluster, trader Li Ling said.

``Technically speaking, as long as prices are below 65,000 yuan, copper prices are in a weak trend,'' Li, a futures trader at Star Futures Co., said by phone from Shanghai today.

Copper for delivery in January fell 20 yuan, or 0.03 percent, to settle at 62,690 yuan a ton on the Shanghai Futures Exchange, the lowest settlement price since July 24.

Metal for immediate delivery in Changjiang, Shanghai's biggest spot market, fell as much as 2,100 yuan, or 3.2 percent, to 64,100 yuan a ton today.

Still, Shanghai futures prices rebounded from an intraday low of 62,080 yuan as some investors judged prices to have fallen low enough to resume buying, analysts such as Wang Zheng said.

``Generally, we saw buying from investors,'' Wang, a futures trader at Shanghai Continent Futures Co., said by phone today. ``Open interest kept rising when prices rebounded, so that is a sign that new buying has surfaced,'' he said, referring to the total number of futures contracts that have not been closed, liquidated or delivered.

Copper for three-month delivery on the benchmark London Metal Exchange fell $45, or 0.7 percent, to $6,865 a ton at 7:50 a.m. London time.

Technical charts suggest ``that the larger trend remains to the downside'' for London copper prices, indicating prices may fall to $6,415 a ton, the lowest posted in June, Barclays Capital analysts led by Jordan Kotick said in a report dated yesterday.

Copper for delivery in March fell 0.75 cent, or 0.2 percent, to $3.1175 a pound in after-hours trade on the Comex division of the New York Mercantile Exchange at 7:50 a.m. London time.