Copper Extends Slide on Soft Chinese Demand and Stronger Dollar

News Snapshot:

(Bloomberg) -- Copper extended losses with the dollar strengthening and prices facing sustained pressure from weak Chinese demand. The metal has shed 14% since rocketing to a record above $11,000 a ton in May. Soft market conditions in top consumer China have handed copper’s more bullish investors a reality check, and prices have continued to decline even amid tentative signs of a demand recovery. “The sharp rise of the copper price in May undermined downstream demand, leading to higher inventory," HSBC Holdings Plc analysts including Howard Lau wrote in a note. “However, we believe pent-up demand will gradually be released...