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Miners descend as Chinese factory activity disappoints

Posted on 05 January 2016

The UK-listed mining sector began 2016 firmly in the red as the price of copper sank to a two-week low, after weak economic data from China triggered fresh concerns about the world’s largest metals consumer. After slumping 24pc last year, three-month copper on the London Metal Exchange tumbled 2.3pc to $4,599, its lowest level since December 18.
Given their reliance on Asian consumption, mining stocks slipped towards the bottom of the blue-chip index after factory activity in China contracted for a 10th consecutive month in December. The Caixin China Manufacturing Purchasing Managers’ Index dipped to 48.2 last month, falling short of expectations that it would hit 49………………………………………..Full Article: Source


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