Copper Falls for Second Day as Equities Decline, Supplies Grow
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Copper fell for a second straight day in New York as U.S. equities erased earlier gains, sparking demand concerns amid signs of increasing supplies of the metal.
The Standard & Poor’s 500 Index of equities slid after six straight gains as Apple Inc., the world’s most valuable company, lost 12 percent on its weakest sales increase in 14 quarters. Codelco, the biggest copper producer, predicted a surplus of the metal that it said may push prices down toward e year-end.