COMMODITY
Copper futures trade lower on demand worriers
Aug-03-2021

Copper futures traded lower on Monday on worries about demand following downbeat global manufacturing data. Data showed China’s factory activity expanded at the slowest pace in 17 months, while US manufacturing activity grew at a slower pace in July for the second straight month. However, weakness in the US dollar, expectations of more stimulus in China and possibility of strike disruptions in top producer Chile, supported the copper prices.

Copper futures for September delivery lost $0.0495 to settle at $4.4330 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.28 percent at $9,700.50 a ton.

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