China slowdown, Fed outlook sends metals lower

AP News
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Posted: Feb 20, 2014 4:08 PM

A slowdown in China's manufacturing is helping push down prices for copper and other metals.

Indications that some policymakers at the Federal Reserve may consider raising interest rates sooner than previously expected also sent metals prices lower.

March copper fell half a penny, or 0.2 percent, to $3.28 a pound Thursday.

The actively traded April contract for gold fell $3.50, or 0.3 percent, to $1,316.90 an ounce. Silver for March delivery lost 17 cents, or 0.8 percent, to $21.68 an ounce.

Wheat edged lower, while corn and soybeans rose slightly.

Crude oil fell back below $103 a barrel. U.S. crude for March delivery, the front-month contract, fell 39 cents, or 0.4 percent, to $102.92 a barrel.

March natural gas fell 8.5 cents to $6.064 per 1,000 cubic feet.