Copper Caps Longest Losing Streak Since 1998 on China Concern

Copper fell for an eighth session in London, the longest slump since December 1998, on concern that slowing economic growth will curb demand in China, the world’s largest user of the metal.

Chinese factory output, as measured by a gauge the government will release tomorrow, probably slowed in January for a second straight month, according to analyst estimates. A private measure on Jan. 30 showed manufacturing contracted this month. Copper analysts are the most bearish in a year and expect prices to drop next week as markets in China shut for the Lunar New Year holiday, a Bloomberg News survey showed.