Copper and Aluminum Drop as Gains Peter Out Before China Break

Copper and aluminum fell as a rally that had been buttressed by Chinese buying stalled with the country nearing a major holiday.

Benchmark copper futures dropped toward $13,000 a ton in London, and were near $5.90 a pound in New York, after gaining more than 2% over the prior two sessions. Chinese copper buyers are expected to extend their break over the Lunar New Year holiday — which starts next week — as still-lofty prices curb industrial demand for the commodity.