Bloomberg News

KGHM Retreats First Time in Three Days as Copper Falls on China

April 13, 2012

KGHM Polska Miedz SA (KGH), the copper producer with the largest mine output in Europe, fell for the first time in three days as the metal declined in the wake of weaker-than-expected economic growth in China.

The shares retreated as much as 1.8 percent to 140.5 zloty and traded 0.7 percent lower by 12:27 p.m. in Warsaw.

Copper slid in London, extending a second weekly drop, as slower-than-estimated growth in China stoked concern the weakening trend in the world’s biggest consumer of the metal may continue.

The Chinese economy expanded 8.1 percent in the first quarter from a year earlier, the statistics bureau said today. That was below the 8.4 percent median estimate from economists in a Bloomberg News survey.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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