Copper Caps Longest Fall Since 1995 on China Industry Use
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Copper fell for a ninth session in New York, the longest slump in 18 years, after a report showed manufacturing slowed last month in China, the world’s biggest metal user. Aluminum touched the lowest since 2009.
A Purchasing Managers’ Index slid to 50.5 in January from 51 in December, China’s statistics bureau and logistics federation said on Feb. 1, nearing the level of 50 that divides growth and shrinkage. A private factory gauge on Jan. 30 signaled the first contraction in six months. Chinese markets are closed through Feb. 6 for Lunar New Year celebrations.