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Copper Falls On China Slowdown Concern Ahead Of U.S. Jobs Data

Copper Falls On China Slowdown Concern Ahead Of U.S. Jobs Data

Submitted by • July 10, 2013 www.freecommoditycalls.com

Copper slipped from 2-week high amid concern that slowing economic growth in China will be damping demand and ahead of American jobs report tomorrow. For delivery in 3 months on London Metal Exchange, copper fell 0.7% to $6847 metric ton in Shanghai. The price jumped to $7005 a ton on Wednesday, the highest since 19th June. Copper declined 7.7% in June, the largest loss since 2012. Fan Jianping, Economist at State Information Center said China might have difficulty realizing 7.5% growth target for 2013. Two gauges of China’s manufacturing fell last month, emphasizing a sustained slowdown in the economy of the country.

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