Copper Falls Most in 15 Weeks on Fed Bets, China Production
This article is for subscribers only.
Copper futures tumbled the most in 15 weeks amid speculation that the Federal Reserve will scale back U.S. monetary stimulus this year, while output of the metal rose to a monthly record in China.
Fed Bank of Atlanta President Dennis Lockhart said yesterday that talks on a cut in bond purchases by the central bank “could well take place” next month. China’s output of refined copper in October climbed 23 percent to 637,000 metric tons from a year earlier. Futures have slumped 14 percent in 2013, partly on prospects for increased mine production.