Copper falls on slowing Chinese factory growth, Codelco wage deal financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
(Updates prices)
HANOI, April 1 (Reuters) - London copper prices fell on Thursday to their lowest in nearly a month, hit by a survey showing subdued factory activity growth in top consumer China last month, and as a supply threat in Chile was averted after top producer Codelco struck a wage deal.
Three-month copper on the London Metal Exchange fell 0.9% to $8,710 a tonne by 0725 GMT, having dropped to $8,695 a tonne, its lowest since March 5, earlier in the session.
The most-traded May copper contract on the Shanghai Futures Exchange closed down 0.8% at 65,090 yuan ($9,906.40) a tonne.
China’s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, with the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) dropping to 50.6, its lowest since April 2020.
China s March factory activity growth lowest in almost a year: Caixin PMI reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
China's factory activity expanded at the slowest pace in nine months in February as weak overseas demand and coronavirus flare-ups weighed on output, adding pressure on the country's labour market, a business survey showed on Monday.
South Korea’s exports rise for 4th straight month in Feb China’s private PMI expands at slowest pace in 9 months PMI surveys show post-COVID-19 recovery yet to be bedded down (Adds analyst quote, India PMI)
TOKYO, March 1 (Reuters) - Solid demand for technology goods drove extended growth in Asia’s factories in February, but a slowdown in China underscored the challenges facing the region as it seeks a sustainable recovery from the shattering COVID-19 pandemic blow.
The vaccine rollouts globally and pick-up in demand provided optimism for a vast number of businesses that had grappled for months with a cash-flow crunch and falling profits.