Copper Extends Losses on Weaker Yuan, Tighter Property Financing
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Copper declined for a second day on concern that the yuan’s weakness and delays in loans to the real-estate market will damp demand for the metal in China, the world’s biggest user.
The contract for delivery in three months on the London Metal Exchange retreated as much as 0.7 percent to $7,053.50 a metric ton and was at $7,062 by 4:05 p.m. in Tokyo. Futures are down 4.1 percent this year.