Copper Drops to 4-Year Low as China Manufacturing Slows
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Copper dropped to the lowest in more than four years in London as signs of slower manufacturing in China and the U.S. damped the outlook for demand.
An official Purchasing Managers’ Index in China slipped in December to the lowest in 18 months, according to data released yesterday. The Institute for Supply Management’s U.S. factory gauge fell to a six-month low, a report today showed. Copper slid 14 percent last year amid signs of a cooling economy in China, the world’s biggest user.