Copper Heads for Sixth Weekly Drop as China Manufacturing Slows

Copper headed for a sixth weekly loss after data showed manufacturing contracted in China, the world’s biggest consumer.

The metal in London fell as much as 1.2 percent. The preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics was at 49.8 in January compared with 49.6 last month. Numbers below 50 indicate contraction. A similar measure for the U.S. on Friday will signal further expansion, according to a survey of economists by Bloomberg News.