Copper Drops on China Demand Worries Amid Falling Home Prices
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Copper declined amid concern that Chinese demand may decline as home prices in the world’s largest user continued to slide and the possibility of a hard landing this year for the country’s economy persisted.
The metal for delivery in three months lost as much as 0.8 percent to $8,370 a metric ton on the London Metal Exchange and traded at $8,425 by 3 p.m. Shanghai time. March-delivery copper dropped 0.3 percent to $3.8295 per pound on the Comex.