Copper Near $3.07 After China Data Signals Slowing Economy

Copper lead most industrial metals lower after factory and retail-sales data signaled further slowing in China, the world’s biggest user.

Copper in London fell as much as 0.8 percent, while zinc and lead also declined. Industrial-output growth in China was the weakest in August since the global financial crisis while investment and retail sales moderated, figures released Sept. 13 showed. Factory data due today from the U.S., the second-biggest metals user, will probably indicate activity in August slowed from the previous month, according to a Bloomberg News survey.

“The Chinese data over the weekend came in worse than expected,” Daniel Hynes, an analyst at Australia and New Zealand Banking Group Ltd., said by phone today from Sydney. “It’s not surprising the base metals are weaker on the back of it.”

Bloomberg

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