Copper fell in London on speculation that China, the world’s biggest user of the metal, will import less of the metal. Chinese imports of copper and products dropped 19 percent in January from a 20-month high in December, the Beijing-based customs office said today. Copper accelerated declines yesterday on concern that U.S. Treasury Secretary Timothy Geithner’s financial-rescue package won’t be enough to stem the recession. “The market is very disappointed with this U.S. package, and if the U.S. economy doesn’t recover China won’t either,” said Keith Wildie, a trader at ICAP Plc in London. “I don’t think anybody would be surprised by the drop in China’s imports. There’s obviously a slowdown there.” Copper for delivery in three months fell $89, or 2.6 percent, to $3,396 a metric ton as of 9:27 a.m. on the London Metal Exchange. Prices have climbed 11 percent this year as demand from China is forecast to expand 1.2 percent this year following last year’s 5.7 percent jump, according to London-based research company CRU. Copper’s advance compares with a 1.3 percent drop in the UBS Bloomberg CMCI Index of 26 commodities. LME copper stockpiles jumped 2,025 tons to 516,450 tons, the most since Oct. 31, 2003, according to the exchange today. They have climbed 52 percent this year. Nickel for delivery in three months dropped $500, or 4.6 percent, to $10,300 a ton, taking this year’s slide to 12 percent. Tin stockpiles fell 85 tons to 8,770 tons, the lowest since Jan. 22. The three-month contract fell $45, or 0.4 percent, to $10,855 a ton. Zinc dropped $28, or 2.4 percent, to $1,138 a ton. Aluminum fell $9.75, or 0.7 percent, to $1,389.25 a ton and lead declined $5, or 0.4 percent, to $1,145 a ton.

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