| Copper has sunk to its lowest level since June after weak economic data fuelled concerns about the prospects for demand in China, the world’s biggest consumer of the metal. Copper, used in electronics and construction, traded as low as $6,873 a tonne for delivery in three months on the London Metal Exchange on Wednesday after figures showed the amount of money flowing into China’s economy slowed sharply in July.
“When people look at bad data from China and decided to do something about it in metals then they are going to look at copper first,” said Vivienne Lloyd, base metals analyst at Macquarie. The bank estimates China accounts for around 45 per cent of refined copper consumption...............................................Full Article: Source
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