Mining
Copper price down on China demand concerns
[Click here for an interactive chart of copper prices]
The most-traded May copper contract on the Shanghai Futures Exchange was down 0.4% at 73,360 yuan ($11,552.57) a tonne.
China’s factory activity contracted in March as the economy faced renewed downward pressures from stringent covid-19 controls.
The country’s pledges to shore up its embattled property sector have done little to boost prospects for the sector, according to developers.
China will roll out policies to stabilise the economy as soon as possible as the downward pressure in the economy increased, state media CCTV quoted a cabinet meeting as saying on Wednesday.
Related Article: Miners need to invest over $100bn to meet copper demand
(With files from Reuters)