Copper futures slide to 5-month low

Copper futures fell to the lowest level in more than five months on Wednesday, amid ongoing concerns over the health of China's economy. On the Comex division of the New York Mercantile Exchange, copper for December delivery fell to a session low of $3.000 a pound, a level not seen since April 15. Prices recovered to last trade at $3.011 a pound during European morning hours, up 0.4 cents from a closing price of $3.007 on Tuesday. Futures were likely to find support at $2.998, the low from April 15, and resistance at $3.060, the high from September 30. China is the world's largest copper consumer, accounting for nearly 40% of global demand. Investors were looking ahead to the latest US employment report, due for release on Friday, for further indications on the strength of the recovery in the labour market, a key factor in deciding the future path of monetary policy, according to nasdaq.com