Copper down before U.S. Output Data

Copper dropped before industrial output data from the U.S. and on concern that credit is tightening in China. Lead and zinc fell for the first time in three days.

The contract for copper delivery in three months on the London Metal Exchange dropped 0.2 percent to $7,171.25 a metric ton at 11:47 a.m. in Tokyo. Futures lost 0.8 percent last week and are down 1.8 percent this month. Lead fell 0.5 percent to $2,193.50 a ton and zinc slid 0.3 percent to $1,948.75 a ton.

The U.S. will report industrial output today that may be unchanged from a month ago and after orders to manufacturers unexpectedly dropped in September and as households were more glum in October for a third consecutive month. Copper futures in Shanghai slid 2.1 percent last week after China’s money-market rates jumped the most since June.

Bloomberg

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