Copper futures dropped for the first time in three days on speculation that China will continue to curb its property market, reducing demand from the world’s biggest consumer. An increase in LME stockpiles and an outflow of funds to stock markets also weighed on copper.
Copper futures for most actively traded July delivery were down 0.8% at $3.2970 per pound on the Comex metals division of New York Mercantile Exchange. While copper on the London Metal Exchange fell as much as 0.6% to $7,260 a metric ton.
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