Copper Caps Second Monthly Decline as China Demand May Ease
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Copper fell in New York, capping the second straight monthly drop, on mounting concern that demand will slow in China, the world’s largest metals user.
China’s central bank has raised lenders’ reserve requirements 10 times since the start of 2010 and boosted interest rates four times since October to rein in accelerating consumer prices and slow growth. Borrowing costs may increase again by May 2, Dong Tao, an analyst at Credit Suisse Group AG, said in a report yesterday. Copper dropped 3 percent this month after losing 4.2 percent in March.