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News Summary: Copper falls ahead of Chinese data

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News Summary: Copper falls ahead of Chinese data
Submitted by Fox First at Ten on June 8th

By The Associated Press
COPPER PRESSED: Copper prices fell ahead of reports expected this weekend that could shed more light on China's economic slowdown. The price dropped 8.55 cents to finish at $3.285 per pound, the lowest since mid-December.
EYES ON CHINA: China is scheduled to release May trade and industrial data. Some analysts speculated that the details may show China's economy is weaker than previously expected. China is a huge importer of copper and other commodities, so slower economic growth there affects demand for those materials.
MIXED BAG: Prices rose for gold, corn and natural gas. Industrial metals, oil, wheat and soybeans fell.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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