Investors fearing economic threats retreat from copper

New York

INVESTORS are hastening their retreat from copper, unnerved by the threats to global economic growth.

The metal slumped to a six-year low last week as Greece's efforts to reach a deal with creditors stumbled and Chinese equities plunged. Europe and China consume about two-thirds of the world's copper. Goldman Sachs Group Inc and Societe Generale SA see little prospect of a rebound anytime soon.

Speculators are holding their biggest bearish bet on copper in almost 16 months, with Barclays plc forecasting that supply will flip from shortages to surpluses from this year. The International Monetary Fund cut its global economic-growth forecast and the Federal Reserve released…