UPDATE AT 1 1 AM NOVEMBER 11

Shanghai copper futures shed nearly 3.7 percent on

Tuesday, and London prices ticked lower after a double

digit rally overnight on a rescue package for China's economy

fizzled.

On Monday, Shanghai copper jumped by its 4 percent limit

chasing an early charge higher that saw London prices up

as much as 11 percent, before closing 3.2 percent in the black.

Initial euphoria after China launched a near $600-billion

spending package to shore up GDP was tempered by worries

about the world economy and fears of a widespread recession.

China will also adjust policies on metal product exports at the

end of this year or early next year to boost trade, an executive

at the China Nonferrous Metals Industry Association said on Tuesday.