Copper fell the most in a week in London after manufacturing shrank more than estimated inChina and some Federal Reserve officials wants tapering speeded up.Copper for delivery in three months retreated 0.7 percent to $7,132 a metric ton by 11:46 a.m. on the London Metal Exchange after sliding as much as 0.9 percent, the most since Feb. 13. Copper for delivery in May fell 0.7 percent to $3.2495 a pound on the Comex in New York.
China is the world’s biggest copper consumer and the U.S. ranks second. The Asian nation’s government reduced its 2014 forecast for expansion in factory output to about 9.5 percent from last year’s 10 percent, Mao Weiming, deputy minister at the Ministry of Industry & Information Technology.
China is the world’s biggest copper consumer and the U.S. ranks second. The Asian nation’s government reduced its 2014 forecast for expansion in factory output to about 9.5 percent from last year’s 10 percent, Mao Weiming, deputy minister at the Ministry of Industry & Information Technology.