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LME copper futures closed lower, dragged down by the Chinese economic data
Views:  Date:2014-08-14 17:13:27

LONDON, Aug 13 (Reuters) - Copper futures on the London Metal Exchange ended lower Wednesday as China's latest economic data showed a slight downturn. LME 3-month copper futures contract closed down 1.1% at $ 6,885 a tonne after touching a seven-week low. In this case,

3-month copper futures contract fell mainly by the disappointing Chinese economic data. Data show that China's new loans in July fell to its lowest level in nearly five years. In this case,

China's National Bureau of Statistics data show that China's industrial added value in July rose 9.0%, compared with June's 9.2% year on year decline. In addition, July retail sales increased 12.2%, compared with 12.4% in June has slowed. From January to July, fixed asset investment increased by 17%, lower than market growth. In this case,

Some investors worry that a slowdown in China's economic growth will dampen demand for copper.

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