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NEW YORK (AP) - Industrial metals prices sank Tuesday after China, a major source of world demand, reported a sharp drop in May copper imports.
Other commodity markets slumped. Crude oil and gasoline futures fell, while precious metals prices retreated. Agriculture futures finished mixed.
China's imports of copper fell 28 percent in May from April, according to Dow Jones Newswires. The decline was widely expected following a surge in first-quarter imports. But given that China has been a juggernaut behind the commodities boom of recent years, any sign of waning demand can unnerve the market.
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