Copper Falls to Lowest Since October 2011, Entering Bear Market

Copper slumped into a bear market in London on concern slowing economies from China to the U.S. will reduce demand as supply of the metal expands.

Copper for delivery in three months fell 1.4 percent to $6,990 a metric ton by the close on the London Metal Exchange today. That was below the level of $6,992 marking a 20 percent drop from the February 2012 closing high, a common definition of a bear market.

To contact the reporters on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net; Joe Richter in New York at jrichter1@bloomberg.net;

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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