Friday, April 22, 2005
Copper Falls on Speculation China's Consumption Growth May Slow
Bloomberg
Copper prices in New York fell for the first time in a week on speculation China's government will step up efforts to slow the economy, curbing demand for metals from the world's biggest consumer.
China's Premier Wen Jiabao has been trying to damp demand for commodities to avoid overheating the economy. Efforts so far have failed to slow growth, as industrial production surged 16 percent in the first quarter. Rising demand from China helped send copper prices to a 16-year high on April 12.
Copper prices in New York fell for the first time in a week on speculation China's government will step up efforts to slow the economy, curbing demand for metals from the world's biggest consumer.
China's Premier Wen Jiabao has been trying to damp demand for commodities to avoid overheating the economy. Efforts so far have failed to slow growth, as industrial production surged 16 percent in the first quarter. Rising demand from China helped send copper prices to a 16-year high on April 12.
Labels: Copper
