BLBG: Metals, oil prices fall on manufacturing slowdown
By The Associated Press
A slowdown in manufacturing in the United States and China is raising questions about how strong demand will be for industrial metals such as copper.
Prices for copper, silver, platinum and palladium all fell Wednesday. Oil also settled lower.
A report from the Institute for Supply Management, a trade group of purchasing executives, showed that U.S. manufacturing growth slowed sharply in May. Payroll company ADP said private employers added fewer jobs than expected. Auto sales also declined.
Manufacturing also slowed in China as companies there grappled with widespread power shortages and government measures to slow down the economy and control inflation.
Commodities fell broadly, with the biggest losses coming in metals and energy products.
