13th December 2013
Copper has declined in commodities trading markets for the first time in six sessions today (December 13th), following the release of Chinese data.
Production of the metal in the country - which is also the world's largest consumer - reached record-high levels in November, according to official figures.
Prices have also come under pressure amid speculation the Federal Reserve will cut its monetary stimulus when it meets next week. The US central bank's quantitative easing programme has widely been seen as the driving force behind global growth over the last year.
Copper for March delivery slipped by 0.2 per cent to $3.289 per pound on the Comex Division of the New York Mercantile Exchange, while the contract for settlement in three months declined by 0.4 per cent to $7,195 per metric tonne on the London Metal Exchange.
This drop has cut the metal's gain for the week to 1.2 per cent and it remains down by more than nine per cent for the year.
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