Copper Declines to Three-Week Low on U.S. Budget Impasse
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Copper declined to the lowest level in three weeks amid concerns that budget negotiations deteriorated in the U.S. Zinc, lead, nickel and tin also fell.
Metal for delivery in three months fell as much as 0.8 percent to $7,863 a metric ton, the lowest since Nov. 29, before trading at $7,868.25 on the London Metal Exchange at 1:58 p.m. in Shanghai. Copper has climbed 3.5 percent this year. The contract for March delivery on the Shanghai Futures Exchange fell 1.5 percent to 56,770 yuan ($9,111) a ton.