10th March 2014
Copper futures have fallen to their lowest level in nine months in commodities trading markets today (March 10th).
This is amid concerns regarding China's economic growth, which has been called into question further following the release of official trade figures over the weekend.
According to the customs data, the country's exports declined by 18.1 per cent year on year last month, despite expectations for an increase of 7.5 per cent.
As a result, China recorded a trade deficit of $23 billion (£13.77 billion), which follows a surplus of $31.86 billion in January.
The country is the world's largest consumer of copper and fears over its economic progress have led to weaker demand for the industrial metal.
In early European trading, copper for May delivery dropped by 1.35 per cent to $3.041 per pound on the Comex division of the New York Mercantile Exchange. This follows the 4.21 per cent slump recorded on Friday.
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