The Conversation (0)
Metals Little Changed But Weak US Manufacturing Data Sours Sentiment
Aug. 02, 2011 06:42AM PST
Industrial MetalsFXStreet reports base metals were mostly unchanged in LME premarket trading triggered by disappointing US manufacturing data.
FXStreet reports base metals were mostly unchanged in LME premarket trading triggered by disappointing US manufacturing data.
The market news is quoted as saying,
US manufacturing figures on Monday were extremely disappointing – ISM non-manufacturing PMI for July fell to its lowest for two years at 50.9 from 55.3 previously, undershooting a forecast of 55. Any number below 50 indicates economic contraction.
Tin fell $250 or 0.9 percent to $27,850, with stocks rising 650 tonnes to 21,465 tonnes.