Copper Drops for Second Day as China Quake Raises Demand Concern
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Copper declined for a second day in London amid speculation that an earthquake in China’s Sichuan province will hurt demand for the metal in the near term before it boosts consumption in the reconstruction.
Metal for delivery in three months fell as much as 2.5 percent to $6,815 a metric ton on the London Metal Exchange, before trading at $6,847.25 at 3:10 p.m. Shanghai time, heading for the lowest close since October 2011. Copper declined for a fifth consecutive week and dropped into a bear market last week. The August contract on the Shanghai Futures Exchange retreated