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China GDP Plunge Weighs on Copper
Copper prices are trading in a muted fashion across the European morning on Monday. The latest economic data out of China overnight has done little to inspire confidence amongst bulls. Q2 GDP was seen falling to 4.7% from 5.3% prior, below the 5.1% the market was looking for. Growth is now at its lowest level since Q1 2023. Additionally, annualised industrial production was seen at 5.3% last month, while slightly higher than the 5% the market was looking for, the reading marks a decline from the prior 5.6% reading and is the second consecutive monthly decline. Weaker China data has been a major headwind for copper ... (full story)
