Copper dropped ahead of data that economists forecast will show the U.S. housing market slowed last month, dimming prospects for demand in the world’s second- largest user. The metal in Shanghai slumped to a one-week low.
Copper for three-month delivery on the London Metal Exchange fell as much as 0.6 percent to $7,210 a metric ton, and traded at $7,235.25 at 10:20 a.m. in Singapore. The December- delivery contract on the Shanghai Futures Exchange tumbled as much as 0.9 percent to 56,640 yuan ($8,329) a ton, the lowest level since Aug. 16, before trading at 56,800 yuan.