Copper Falls on Chinese Production Pullback

Bloomberg reported that copper fell in New York, pulled down by Chinese direction to companies in 19 different industries to scale back production capacity, fuelling concern over demand.

As quoted in the market report:

The market is already very bearish and is therefore likely to interpret this as further evidence of a slowdown,” Nic Brown, head of commodities research at Natixis SA in London, said by e-mail today.

To view the whole Bloomberg report, click here.