Copper Falls for Third Day on Dollar Rally, China Funding Costs
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Copper declined for a third day as the dollar strengthened after a Federal Reserve decision to taper stimulus and funding costs in China surged, curbing the demand outlook for industrial metals.
The contract for delivery in three months on the London Metal Exchange dropped 0.5 percent to $7,231 by 4:49 p.m. in Tokyo, bringing losses this year to 8.7 percent. The price touched $7,307.70 on Dec. 16, the highest level since Oct. 23.