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Slowing China’s Growth Hurts Copper & Rubber Prices

April 18, 2014 at 19:45 by Vladimir Vyun

Rubber fell today as data from China continues to fuel concerns about slower economic growth in the Asian nation. Prices for new houses were rising in March not as fast as in the previous month, adding to worries spurred by the report released earlier this week that showed slower expansion of the Chinese economy.

Copper was down in Shanghai too but it managed to rise in New York. China is the largest consumer of the industrial metal, and slowing growth in the second-biggest world economy means less usage of the metal used in construction and manufacturing. Speculations persist that China is not going to stimulate the economy or at least stimulus would be not very strong. In any case, prospects for copper are not particularly good.

September futures for delivery of rubber fell ¥1.6 (0.78 percent) to ¥204.8 per kilogram as of 19:40 GMT on TOCOM. Copper for delivery in July slid 0.4 percent to close at 46,360 yuan ($7,451) per metric ton on SHFE and was down 0.8 percent over the week.

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