Copper May Decline as Fitch Warns Italy of Rating Downgrade

Copper, little changed, may drop as Fitch Ratings’ warning that it may downgrade Italy’s credit rating raised concern over Europe’s economic growth, eroding demand prospects for industrial metals.

The three-month contract on the London Metal Exchange fell as much as 1.3 percent to $7,642.25 a metric ton and traded at $7,750 by 4:16 p.m. Tokyo time. The March-delivery contract gained 0.3 percent to $3.522 a pound on the Comex.