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Copper rally loses steam as China demand falters

Posted on 04 September 2013

A monthlong copper rally tied to China’s improving economy is running out of steam as signs grow that Chinese manufacturers, the world’s biggest buyers, are cutting back on demand.
Copper surged about 7.8% in the first half of August, but the rally has since stalled and prices are down 2.6% from their high last month. The metal is seen as a key barometer for Chinese growth because of its wide use in making items ranging from power cables to automobiles. The recent slide potentially muddies the outlook for Asia’s biggest economy, with data elsewhere pointing to an accelerating economy………………………………………..Full Article: Source


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