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Copper Drops to Erase Year’s Gains on LME as China Imports Slide

  • Inventories on London exchange climb to highest since November
  • Copper’s fourth day of losses longest stretch since July 7
Updated on

Copper fell for a fourth day, erasing its gains for the year, on surging inventories and signs of weak demand in China, the biggest consumer. Glencore Plc, the top copper supplier, fell after reporting profit declined by two-thirds.

Supply has been outpacing demand. China cut copper imports for a fourth month to the lowest level in 17 months, while inventories tracked by the London Metal Exchange rose 21 percent over the past three days to the highest since November.