Dr Copper predicts trouble for China

China's ailing construction sector has caused a slump in the copper price.

If you want to know the outlook for an economy, don't ask an economist the price of copper has a much better track record. Because the metal is used in so many areas of the economy, its price is seen as a good activity bellwether. It is known as Dr Copper' due to its ability to outsmart PhD economists.

On Monday, the price of copper fell to seven-week lows of around $7,700 per tonne as stocks unexpectedly increased. Bears point to a slowing Chinese economy as one reason for this.

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