Global copper smelting activity slides

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    LONDON- Global copper smelting activity tumbled to the lowest levels in over two years in July, data from satellite surveillance of copper plants showed.

    The weak showing appeared to be partly due to increased maintenance work at smelters, a joint statement from satellite service SAVANT and broker Marex Spectron said on Tuesday.

    “The unusually swift decline coincided with a record amount of maintenance outages observed globally and follows a period of unusually low maintenance at Chinese sites relative to seasonal norms,” it said.