LONDON: Manufacturing data from top consumer China has helped copper prices steady after touching three-month lows.
China’s manufacturing sector picked up some momentum in September even as factory employment slumped to a 5-1/2-year low, reassuring investors who had expected weaker numbers from the world’s second-largest economy.
According to analysts, the global copper market is expected to be in a surplus of around 285,000 tons, next year.
Benchmark copper on the London Metal Exchange closed virtually flat, down 0.08 percent at $6,715 a tonne. It had fallen to a three-month low at $6,707.25 in the previous session.
