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Copper Prices Decline At 2nd Trading Session Of China's Growth Concerns

Main / Non-ferrous metallurgy

Copper prices in the second trading session in London fell on Monday amid concerns about a slight slowdown in manufacturing activity of the world's largest consumer of industrial metals - China.

Copper Prices Decline At 2nd Trading Session Of China's Growth Concerns

Trade was slowed down by a weeklong Lunar New Year celebration that shut down Chinese markets.

Asian stocks traded near a four-month high on Monday following mixed performance on Wall Street late last week, while the dollar strengthened against the yen amid strong employment and US manufacturing data.

Copper prices on the London Stock Exchange (LME) fell 0.3 percent in three months to $ 6,119.50 per tonne as of 06:52 GMT.

China's manufacturing activity fell to a three-year low in January, according to a private survey, as new orders and output fell sharply, fueling fears that growth in the world's second largest economy will slow. p>

"There is no trading activity in China due to the Lunar New Year holidays," said Helen Lau, an analyst at Argonaut Securities. "The slowdown in industrial production in China is strongly affecting the metals markets."

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