Copper Slumps On Demand Concerns

Bloomberg reported that copper declined the most in seven weeks after China’s service industries reached a four-month low and U.S. car sales fanned concerns that demand for copper was waning.

According to the report:

Copper futures for delivery in March fell 0.9 percent to $3.352 a pound at 12:28 p.m. on the Comex in New York. A close at that price would mark the biggest loss for a most-active contract since Nov. 13.

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