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The Wall Street Journal reported that copper prices saw a dip on Monday in the wake of lackluster manufacturing data out of China. Stock markets in China were halted on Monday following a seven percent drop.
The Wall Street Journal reported that copper prices saw a dip on Monday in the wake of lackluster manufacturing data out of China. Stock markets in China were halted on Monday following a seven percent drop.
As quoted in the publication:
Copper futures settled down 2.6% at $2.0705 a pound on the Comex division of the New York Mercantile Exchange.
Copper had rallied in December as inventories fell, Chinese imports of the metal remained robust and miners continued to announce production cuts.
These factors are likely to continue to influence the market as investors also scan economic data out of China, which consumes some 45% of copper production.
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