China's manufacturing sector activity contracted at a sharper pace in December as surging infections disrupted production.
Copper price fell on Tuesday due to a stronger dollar and deteriorating demand prospects because of weak growth in China.
Copper for delivery in March fell 0.1% on the Comex market in New York, touching $3.80 per pound or $8,360 per tonne.
[Click here for an interactive chart of copper prices]
China’s manufacturing sector activity contracted at a sharper pace in December as surging infections disrupted production and weighed on demand, a survey of purchasing managers (PMIs) showed.
A recovery in subway use in major Chinese cities sends “a powerful signal that China is waking from its covid-induced slumber” said Giles Coghlan, an analyst at broker HYCM.
“However, that has not been felt in copper markets because of worries that both the US and Europe are heading towards recessions while China’s latest PMI prints show further falls,” he added.
Sliding demand for imported copper in China can be seen in the Yangshan copper premium, which had slumped to $37.50 a tonne on Dec. 30, down more than 70% since the middle of October.
Faculty of International Journalism and Mass Communications Eurasian International University is conducting an additional intake of applicants!
Suspect arrested for ‘threatening to kill Trump and his VP pick JD Vance’ in Florida days after assassination attempt
Exclusive - Sayantani Ghosh expresses happiness as sets of her show Dahej Daasi shifted close to her home; says 'I've been manifesting this for quite some time now'
England U20 overpower France to be crowned world champions
Интервью AppTime с компанией Innova: релиз Gran Saga в России, внутриигровая оплата и «Масленица» в корейской MMO
Today's Wordle answer for Saturday, July 20
According to BioWare, Dragon Age: The Veilguard is the first entry in the series where "the combat's actually fun" and where characters are "intentionally" the focus of the storytelling, which seems pretty unfair on the first three games
Двадцать пять человек за одним столом под звуки караоке – это было шедеврально!
«Бегал в костюме красноармейца по ресторану отца Андрея Бурковского» Михаил Башкатов в шоу «Вкусно с Анфисой Чеховой» на ТВ-3 рассказал о первом заработке
Боец ММА Минеев победил Исмаилова на турнире по правилам бокса в Москве
Актрису Марию Аронову увезли в Боткинскую больницу в Москве
Отрытый конкурс красоты и таланта «Одна на миллион»