Copper hits multi-month low on growing Chinese demand fears

From brecorder.com

Copper prices extended their fall to a seventh consecutive session on Tuesday to hit their lowest in three and a half months on growing concern over demand in top consumer China. Three-month copper on the London Metal Exchange (LME) dropped 0.6% to $9,165 a metric ton in official open-outcry trading after hitting $9,115 for its lowest since April 3. “Chinese demand is soft, which has been the case for a while,” said Dan Smith, head of research at Amalgamated Metal Trading. “Two factors triggered lower prices. One is disappointment about the Chinese (Communist Party’s) third plenum, as there was hope that it ... (full story)