Copper Slips Towards Worst Month in Three Years

Reuters reported that copper dropped and is on track for its worst monthly loss in three years.

The market news is quoted as saying:

Sentiment is turning increasingly bearish said analyst Stephen Briggs of BNP Paribas, adding that the market had taken a rise in Chicago purchasing managers’ data in its stride. “Clearly the Chicago PMI data were much better than expected. But that has done nothing beneficial for base metals prices so far,” he said.Focus is shifting ahead to a big annual metals industry event in London next week for a clearer sense of how deteriorating economic conditions are feeding through to the real economy.

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