| Copper futures fell the most in a week after a report showed declining property prices in China, the world’s largest metal user. New-home prices fell in 64 out of 70 cities in January, Chinese government data showed on Tuesday. That signaled an interest-rate cut in November, the first since 2012, hasn’t revived construction yet. Property accounts for about half of China’s copper demand, according to Goldman Sachs Group Inc.
“More and more reports are indicating that the slowdown is not getting any better,” Mike Dragosits, a senior commodity strategist at TD Securities in Toronto, said in a telephone interview. “Prices will probably remain under pressure until we see China taking some aggressive steps to boost growth.”..............................................Full Article: Source
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