Copper Falls to One-Week Low on China Factory Data, Fed

Copper futures fell to a one-week low after manufacturing shrank more than estimated in China and some Federal Reserve officials advocated further curbing of U.S. economic stimulus.

A Chinese factory gauge today from HSBC Holdings Plc and Markit Economics showed a preliminary February reading of 48.3, below the 49.5 estimate from economists surveyed by Bloomberg. A level under 50 indicates contraction. Some Fed officials said “there should be a clear presumption in favor” of more reductions, minutes of January’s policy meeting showed.