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Copper Bulls Backing Away as China Woes Trump Supply Concerns

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Investors are backing away from copper after the biggest two-month rally since 2012.

The problem is that demand is slowing in China, which accounts for about half of global copper use. Producers including Freeport-McMoRan Inc. say Chinese buying hasn’t picked up as it normally does at this time of year, and Goldman Sachs Group Inc. and Societe Generale SA are among banks predicting lower prices.