Copper Drops for a Second Day as Oil Stokes Inflation Concerns
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Copper dropped for a second day in London on concern a rally in oil prices will boost inflation and support the case for further tightening in China, the world’s largest consumer. All six LME metals declined, led by zinc.
Three-month copper on the London Metal Exchange declined as much as 1.6 percent to $9,655 per metric ton, and traded at $9,672.25 at 3:28 p.m. in Singapore. The metal also fell as equities retreated and the dollar strengthened against a basket of six major currencies.