Copper Declines to One-Week Low on Slowing Growth, Ample Supply
This article is for subscribers only.
Copper fell to a one-week low in New York amid signs that economies are weakening in countries that are the world’s biggest consumers of the metal, contributing to a surge in stockpiles that are the highest since 2003.
Germany expanded less than forecast in the first quarter, government statistics showed today. Bank of America Merrill Lynch cut its estimate for growth this year in China, following JPMorgan Chase & Co. by a day. U.S. industrial production declined in April by the most in eight months, the Federal Reserve said. The three nations are the largest copper users.