Copper Falls as Investors Sell on Surplus, China
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Copper fell to a six-year low as investors added to bearish positions amid expectations for a global supply glut and slowing demand in China, the world’s biggest consumer.
Short positions in the metal increased 39 percent, the most since January 2014, according to U.S. Commodity Futures Trading Commission data released Monday. A rally for Chinese stocks fizzled Tuesday after technology and small-company shares plunged, as the Asian nation heads for the slowest economic growth in 25 years. The metal has lost 25 percent this year.