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Copper Leads Rebound in Metals After Slump to 5-Year Low

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Copper led a rebound in base metals after slumping to the lowest in more than five years as credit growth surged in China.

The metal found in everything from car wiring to plumbing rallied after sliding yesterday to the weakest since July 2009 amid speculation China’s copper demand growth is slowing. Data showing a stronger-than-expected increase in financing last month triggered a jump in Chinese equities and prompted speculation that the sell-off in metals was excessive.