Weak China Data Weighs on Copper
From tickmill.com
Copper prices remain pressured at the start of the week following weak data from China overnight. The latest factory sector data showed that the sector grew below forecasts last month, adding to a slew of weak data recently. The RatingDog PMI fell to 50.6 from 50.9 previously, marking a six-month low in the S&P compiled data. The reading comes on the back of Friday’s official PMI which was seen falling for a seventh consecutive month, plunging to 49 from 49.8. The data is a worrying omen for copper demand and comes amidst signs of a drop in purchases. The Yangshan copper premium, which signals demand for copper ...
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