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Policy: Economy

Copper futures slide again; Oil price also lower

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News,Business,Economy,Mining

Copper futures fell again Tuesday, as did crude oil. Wheat and corn rose, while soybean contracts fell slightly.

The actively traded May contract for copper fell 8 cents, or 2.6 percent, to close at $2.95 a pound Tuesday.

The price of copper also fell the day before following news over the weekend that China's trade slumped last month. China is a major importer of copper.

Most other metals contracts also fell, except for gold. The April gold contract edged up $5.20 to $1,346.70 an ounce.

Silver for May delivery fell nine cents to $20.82 an ounce, April platinum fell $12.60 to $1,464.60 an ounce and June palladium fell $6.35 to $770.50 an ounce.

Crop prices were mixed.

In May contracts, wheat rose 18 cents to $6.59 a bushel, corn rose 5 cents to $4.83 a bushel, and soybeans fell 6 cents to $14.13 a bushel.

Crude oil fell $1.09 to $100.03 a barrel in New York.

Other energy futures were mixed.

Wholesale gasoline rose 2 cents to $2.97 per gallon. Heating oil fell a penny to $2.96 per gallon. Natural gas fell 4 cents to $4.61 per 1,000 cubic feet.

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