Prices for copper in London fell on Tuesday under pressure from weak service sector data from China suggesting uncertain post-pandemic recovery in top metals consumer. Benchmark copper CMCU3 on the London Metal Exchange (LME) was down 0.5% at $8 410 a metric ton by 09:19 GMT.
LONDON - Prices for copper in London fell on Tuesday under pressure from weak service sector data from China suggesting uncertain post-pandemic recovery in the top metals consumer.
"Metals prices are paring gains made on the back of stimulus measures by Beijing to turn around the flagging property market that were announced last week," said"The market will be now assessing how these recent measures will feed through to real estate activity and how supportive they will be for metals demand."
In the euro zone, the decline in business activity accelerated faster than initially thought last month.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil prices mixed on receding support from China's steps to revive economy By ReutersOil prices mixed on receding support from China's steps to revive economy
Read more »
Oil prices mixed on receding support from China's steps to revive economyOil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia
Read more »
Oil prices pull back from 2023 highs after downbeat China dataOil futures edged lower early Tuesday, pulling back from 2023 highs, after downbeat economic data from China raised worries about global demand.
Read more »
Cupra's DarkRebel Concept Goes From Metaverse To Reality In MunichThe Cupra DarkRebel Concept is painted in a dark shade of violet with various copper accents
Read more »
Celsius Resources License Delayed at Gold-Copper Project in PhilippinesBy Christian Moess Laursen CeLsius Resources hasn't yet received a mineral-production sharing agreement for its gold-copper project in the Philippines, which...
Read more »
California gas prices continue to rise amid holiday weekendThe average price of gas is at its highest amount since Nov. 2022.
Read more »