Most industrial metals fell for a second day, paring earlier losses, before German lawmakers vote on changes to a European bailout fund. Tin advanced. Copper dropped as much as 5.9 percent to $6,821 per metric ton on the London Metal Exchange before trimming the decline to 2.8 percent with the price at $7,050 by 2:55 p.m. in Shanghai. The LME Index of six metals has slumped 20 percent this quarter and is set for its biggest such loss since 2008. The European Commission is resisting ideas by some government officials to impose bigger writedowns on banks’ holdings of Greek government debt than those agreed on at July summit, a European official said. Lawmakers in Germany may vote for a plan to expand the European Financial Stability Facility today which would allow the fund to buy bonds of distressed states and offer emergency loans to governments. “Investors’ confidence is waning,” Ren Yunpeng, an analyst at China International Futures Co., said by phone from Shenzhen. “Now the debt crisis is leading to a global liquidity problem as tumbling global markets drain funds.” Fifty-nine percent of respondents in a quarterly Bloomberg Global Poll said that China’s economy, which expanded 9.5 percent last quarter, will gain less than 5 percent a year by 2016. Twelve percent see such a slowdown within a year, and 47 percent said it will occur in two to five years, according to investors, analysts and traders who are Bloomberg subscribers. China is the world’s biggest consumer of metals. Goldman Bullish December-delivery copper fell as much as 5.1 percent to $3.08 per pound on the Comex in New York before paring losses to $3.193. The December-delivery contract lost 4.8 percent to 52,500 yuan ($8,206) per ton on the Shanghai Futures Exchange. While Citigroup Inc. said yesterday that copper may decline to as low as $4,500 per ton under a so-called doomsday scenario, Goldman Sachs Group Inc. remained bullish. “We estimate tight to deficit-market conditions to 2015,” Goldman analysts including Fawzi Hanano said in a report yesterday. Aluminum dropped 1 percent to $2,213.50 per ton, zinc declined 2.8 percent to $1,886 a ton and lead fell 1.3 percent to $1,982 per ton. Nickel lost 1 percent to $18,325 per ton, and tin reversed an earlier loss, rising 1.2 percent to $20,800. To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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