News Summary: Copper drops on China outlook

Posted at: 03/01/2013 3:38 PM
By The Associated Press

COPPER LOW: Copper fell to its lowest in more than three months. Concerns about slowing manufacturing growth in China weighed on the price of the metal. A report confirming the ongoing stagnation in European manufacturing also helped push copper lower.

DOLLAR EFFECT: The strength of the dollar is pushing down the prices of other metals such as gold, silver, palladium and platinum.

STABLE WEEK: The price of wheat stabilized this week. The grain has slumped this year on speculation that winter storms will bring moisture to the Plains region, boosting this year’s crop.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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