Copper dropped to the lowest level in more than seven months as manufacturing in China and the U.S., the biggest users, grew less than forecast. Aluminum declined to the cheapest since October as metals fell. The copper contract for three-month delivery lost as much as 1.3 percent to $7,440 a metric ton on the London Metal Exchange, the lowest price since Aug. 21, before trading at $7,493 by 4:43 p.m. in Tokyo. Aluminum slid as much as 0.6 percent to $1,893 a ton, the lowest since Oct. 30. The bourse was closed yesterday and on March 29 for public holidays. The Institute for Supply Management’s factory index decreased to 51.3 in March from 54.2 a month earlier, the Tempe, Arizona-based group said yesterday. Economists projected a reading of 54, according to the median forecast in a Bloomberg survey. Figures higher than 50 signal expansion. A government report yesterday showed a key gauge of Chinese manufacturing trailed estimates in March. “The weaker-than-expected U.S. manufacturing number deepened concern after the China data,� said Tetsu Emori, the chief fund manager at Astmax Asset Management Inc. in Tokyo. Expanding global stockpiles also depressed copper, he said. Inventory tracked by the LME surged 78 percent in the first quarter to 569,775 tons, the highest since 2003. Stockpiles monitored by the Shanghai Futures Exchange rose to 247,591 tons last week, the biggest in at least 10 years. Futures for May delivery gained 0.3 percent $3.3845 a pound on the Comex in New York. The contract for July delivery on the Shanghai exchange rose 1.4 percent to close at 54,480 yuan ($8,785) a ton for the first gain in six days. To contact the reporter on this story: Jae Hur in Tokyo at jhur1@bloomberg.net To contact the editor responsible for this story: Brett Miller at bmiller30@bloomberg.net

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