The benchmark Shanghai August futures contract slid CNY440 ($1=CNY8.28) to CNY16,830 on trading of 86,200 metric tonnes."Chinese (copper) selling started Monday, before the LME opened,"Zhongji Futures Co trader said. "China's domestic demand is still in a slump. A lot of speculators liquidated positions to get out of the market." Selling trend continued on Tuesday also, as traders rushed to liquidate positions amid a worldwide downturn in copper. Lack of demand from Japanese as well as Chinese endusers has analysts forecasting bearish copper market fundamentals will persist through the second half of this year. "If you look at technical factors, there's no more support for the Shanghai August futures contract until about CNY16,000/tonne," aShenzhen-based metals analyst said.