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Copper and metals fall amid China's slowdown
Copper and other base metal prices declined ahead of China's National Day holiday, due to a slowdown in demand growth amid weak profits in the Chinese industry, which recorded the lowest rate since November of last year, increasing by only 4.2% in August. The price of copper fell by 1.6% on the London Metal Exchange to around $14,400 per ton. Despite expectations of declining U.S. imports and indications of tight supplies that kept prices near record levels, the slowdown in consumption and investment threatens demand. The U.S. Federal Reserve is expected to raise interest rates in October, which could reduce demand for industrial commodities.
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