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Copper Struggling As Chinese Manufacturing PMI Tumbles
Copper prices are in the green today but are struggling to break back above local resistance on the back of weaker-than-forecast Chinese manufacturing data overnight. The Chinese manufacturing PMI for last month was seen falling back into negative territory at 49.5 down from 50.2 prior and expected. The data puts emphasis back on the economic difficulties in China at the moment as the post-pandemic recovery continues to struggle. Chinese Property Sector Concerns Commodity prices have struggled recently against a higher US Dollar and ongoing issues within the Chinese property sector. Country Garden last week ... (full story)
