Preoccupations about the reduced pace of growth in the top consumer pulled down copper futures on Friday, according to Bloomberg.
The government of China is reconciled to accepting slowdowns with development, which is likely to impact the Asian nation's purchase of the reddish metal. Copper is sensitive to worldwide economic and financial developments due to its myriad uses in construction, manufacturing and additional industry.
Bloomberg-polled economists said second-quarter figures due for release by China this coming Monday are likely to reveal development slowed, representing a bearish trend in nine of the past 10 quarters. Economic expansion in China was reduced by Macquarie Group.
"Our analysts anticipate disappointing second-quarter growth figures, which could weigh on prices," states a Friday report authored by Commerzbank AG, according to Bloomberg.
At 9:19 a.m. on Friday, copper futures dropped 0.33 percent, a 0.0105-cent loss to $3.167 per pound.
Reuters reports losses to the industrial metal also were linked with the U.S. dollar gaining value on Friday. But, despite the poor performance, the reddish metal was barreling toward its biggest weekly increase in about eight weeks.
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