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Copper prices declined on Monday after data from top metals consumer China disappointed investors and showed signs of increasing pressure on the world’s second-biggest economy.
Three-month copper on the London Metal Exchange fell 1 percent to $9,472.50 a ton while the most-traded September copper contract on the Shanghai Futures Exchange eased 0.1 percent to 69,830 yuan ($10,783.56) a ton.
Both factory output and retail sales in China rose more slowly than expected in July from a year ago, as export growth cooled and new COVID-19 outbreaks disrupted business.
China is the world’s biggest copper consumer, while copper is often used as a gauge of global economic health.
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