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Focus on China demand weighs on copper
Copper prices slipped on Monday as worries about demand resurfaced after weak data from China, though a softer dollar provided some support. Benchmark copper on the London Metal Exchange (LME) was down 0.4% at $8,394 a metric ton by 1110 GMT, having hit a two-month high of $8,486 last week. Profits at China’s industrial companies rose 2.7% year on year in October, slowing from the 11.9% increase in September and 17.2% in August. Traders said the numbers had triggered some profit-taking on long positions betting on higher copper prices. Copper prices have gained 7% since Oct. 23. “Funds have been selling, but the ... (full story)