Commodities

Copper falls more than 1% on weak Chinese data

2019-03-14 16:11:22 GMT (Economies.com)

Copper prices fell during the day as the dollar rose against most major currencies, as well as less-than-expected economic data gets released in China.

 

China's industrial production rose 5.3% in February, compared to expectations of a 5.5% rise, governmental data showed.

 

Other Chinese data showed that the unemployment rate rose to 5.3% last month, raising concerns over the growth of the world's second-largest economy.

 

On the other hand, markets are still waiting for the outcome of the trade negotiations between the United States and China in the light of the recent positive statements.

 

Meanwhile, as of 13:54 GMT, the dollar index rose against a number of major currencies by 0.3% to 96.7 points recording a high of 96.8 points and a low of 96.4 points.

 

In terms of trading, as of 13:55 GMT, copper contracts prices (May delivery) fell by 1.3% to $2.89 per pound, recording the highest level at $2.93 and the lowest price at $2.88.

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