Copper Falls to Seven-Month Low as Stockpiles Surge; Lead Slumps
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Copper in London fell for a fourth day, slipping to the lowest price since August, as inventories expand. Lead slumped to a five-month low.
The three-month copper contract fell as much as 0.8 percent to $7,404.50 a ton, the lowest since Aug. 20, on the London Metal Exchange and traded at $7,425 a ton at 4:38 p.m. in Seoul. Copper for May delivery fell 0.8 percent to $3.3510 a pound on the Comex in New York, while the July-delivery contract lost 0.8 percent to close at 54,060 yuan ($8,716) a ton in Shanghai.