Copper Drops for First Time in Three Days as Dollar Strengthens
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Copper dropped for the first time in three days, erasing earlier gains, as the dollar rebounded, damping demand for raw materials priced in the U.S. currency.
Three-month copper on the London Metal Exchange fell as much as 0.6 percent to $7,335 a metric ton and traded at $7,348 at 3:52 p.m. in Singapore. The November-delivery contract on the Shanghai Futures Exchange gained as much as 1.3 percent to 58,520 yuan ($8,617) a ton, before ending the day 0.5 percent higher at 58,040 yuan.