News Summary: China slowdown hits energy, copper

10/3/2012 2:00 PM
By Associated Press

SAPPED ENERGY: Prices for crude oil and other energy futures fell sharply on the latest signs that China's economy is cooling. Crude fell $3.75 to $88.14 per barrel, the biggest decline since May 4.

TARNISHED COPPER: Copper futures also took a hit from the China news. China imports huge amounts of copper to feed its construction and manufacturing industries. Copper fell 1.7 cents to $3.7840 a pound.

MIXED GRAINS: Soybean prices rose slightly, a day after falling to their lowest level in nearly three months. November soybeans rose 1.25 cents to $15.3175 a bushel. Wheat rose but corn futures fell.


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