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Copper on the LME dipped to $5,918 a tonne for a 0.45 percent drop following reports of slowing GDP growth in China, the metal’s biggest consumer, according to Reuters.
Copper on the LME dipped to $5,918 a tonne for a 0.45 percent drop following reports of slowing GDP growth in China, the metal’s biggest consumer, according to Reuters.
Investing.com reported China’s economy grew 7 percent in the first quarter, but industrial production for the month of March undercut analyst expectations by 1.3 percent. That shook investor confidence in Chinese copper demand and drove prices down. Future demand for the metal could be determined by stimulus actions by Chinese policymakers.
Comex copper futures gained 0.2 percent to trade at $2.706 a pound.
