Jiangxi Copper Co. (600362), China’s largest producer of the metal, fell the most in a week after prices for the commodity declined to a three-week low. The shares fell as much as 1.9 percent to 26.26 yuan in Shanghai trading and closed at 26.49. In Hong Kong, Jiangxi Copper’s shares fell as much as 4.3 percent to HK$21.00 and were trading at HK$21.35 as of 3:00 p.m. local time. China’s benchmark Shanghai Composite Index (SHCOMP) declined 0.4 percent. Futures contracts for copper fell to the lowest in more than three weeks today after a decision on a second bailout for Greece was postponed, spurring concern the nation may be forced to default. Three-month copper on the London Metal Exchange fell a fifth day, poised for the longest losing streak since November. “The copper smelters’ shares prices are correlated to the underlying commodities prices in the long-term,� Zuo Xichao, an analyst at Beijing Antaike Information Development Co., said by telephone from the city of Changsha today. “Demand may pick up in the second quarter,� usage by companies such as the power industry and air-conditioning manufacturers increase, he said. Jiangxi Copper’s shares fell more than 50 percent last year in Shanghai and declined more than 34 percent in Hong Kong. (358) So far this year, the stock has risen by more than 20 percent in both Shanghai and Hong Kong. To contact Bloomberg News staff on this story: Feiwen Rong in Beijing at frong2@bloomberg.net To contact the editor responsible for this story: John Liu at jliu42@bloomberg.net

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