https://www.bloombergquint.com/
Bloomberg) — Copper slumped to a one-month low as a large delivery of metal into exchange warehouses in Asia refocused attention on demand during a seasonally weak period for industrial activity in China.
Prices fell as much as 2.6 percent to $6,885 a ton on the London Metal Exchange as inventories tracked by the bourse jumped by the most in 10 months, continuing a pattern of spikes and drawdowns in LME inventories seen throughout 2017.
The delivery comes as manufacturers in China prepare to dial back output during the week-long Lunar New Year holiday next month, and adds to evidence that copper demand is hitting a soft patch often seen at this time of year, according to Robin Bhar, an analyst at Societe Generale SA.