Copper Pares Drop on London Metal Exchange After Jobs Report
Copper pared declines on the London Metal Exchange after U.S. jobs expanded in December.
The metal for delivery in three months fell 0.9 percent to $8,092.25 a metric ton by 1:32 p.m. in London, after earlier today falling as much as 1.3 percent.
Payrolls rose by 155,000 workers last month following a revised 161,000 advance in November that was more than initially estimated, Labor Department figures showed today in Washington. The median estimate of 82 economists surveyed by Bloomberg called for a increase of 152,000. The unemployment rate held at 7.8 percent, matching the lowest since December 2008.
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