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Drop in copper prices amid China slowdown
Copper and other base metal prices declined before the Chinese National Day holiday, due to a slowdown in the country's industrial profit growth. Chinese company profits increased only 4.2% in August, the slowest pace since November of last year. The price of copper fell by 1.6% on the London Metal Exchange, despite expectations of tight supply, as demand weakened due to weak consumption and investment. Additionally, outlooks for an easing of American interest rates in October could further reduce demand for industrial commodities.
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