Copper fell to a 3-month low in New York as China moved towards another public auction of 20,000 tons from reserves, Bloomberg reported. Copper rose to record highs in New York and London last week after it was reported that China must deliver 200,000 tons by December 21. On the London Metal Exchange, copper for delivery in three months fell US$103, or 2.4% to US$4,112 a tonne. Chinese state trader Liu Qibing is said to have made short copper sales earlier this year, betting prices would fall. Simon Heale, chief executive of the LME, said he saw no reason to hold crisis talks with the Chinese government as had been contemplated, the Financial Times reported.