Copper Heads for 2nd Weekly Drop as China’s Imports Fall
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Copper headed for a second weekly decline after imports by China, the biggest user of the metal, fell to the lowest since April 2013.
The contract for delivery in three months on the London Metal Exchange fell as much as 0.5 percent to $6,961.25 a metric ton and was at $6,962.50 at 3:26 p.m. in Hong Kong. The metal touched $6,951.75 on Aug. 6, the lowest since June 30. Prices are down 1.4 percent this week.