Copper in London Erases Gains on China Supply, Demand Outlook
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Copper in London erased gains in Asian trading, heading for a weekly loss, on concern record production in China bolstered supplies and further government curbs on lending may dim the outlook for domestic metal demand.
Three-month-delivery copper on the London Metal Exchange dropped 0.2 percent to $9,393.75 a metric ton at 3:23 p.m. Singapore time, reversing an earlier gain of as much as 1.1 percent. The contract dropped to $9,350 a ton yesterday, the lowest since April 5. All six LME metals advanced.