Copper Futures Decline as Optimism Over China Rate Cut Wanes

Copper declined for a fifth time in six sessions as traders shifted from optimism over a rate cut in China to focusing on the nation’s lackluster demand for metals.

While metal markets rose during Asian trading hours and global equities rallied after China delivered fresh stimulus with a lending-rate reduction, enthusiasm among copper traders began to wear off as the cut stoked concern over how poorly the nation’s economy is performing. The Asian country accounts for almost half of global demand for the metal.