Copper reaches to 3-Month Low as China manufacturing slows

Source: Bloomberg
© Scanpix/Reuters
Price for copper retreated to the lowest level in three months after data showed slowdown in activity in the manufacturing sector of  China, the biggest user in the world. Copper for three months delivery on the LME dropped 0.7% to $6,964.25 a metric ton, the lowest level since Dec. 4, and was little changed at $6,966.75 per one ton as of 11:05 a.m. The contract for delivery in May slipped 0.5% to $3.1715 per one pound on the Comex in New York. The metal for May delivery on the SHFE contracted 0.9 % $7,940 per one ton, extending a second decline in a month.
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