 "Copper poised for worst year since 2011 as China's economy cools down")
Copper is headed for the biggest annual loss in three years amid sign of an economic slowdown this year in China, the world's largest metals consumer.
The final reading this month for the manufacturing Purchasing Managers' Index for China from HSBC Holdings Plc and Markit Economics was 49.6, lowest in seven months. A figure below 50 signifies contraction. China is on course for the slowest year of economic growth since 1990, according to a Bloomberg survey. Imports into China unexpectedly fell in November and factory-gate prices have continued to slide, figures showed this month.
"There are concerns that China's PMI reading will remain weak," RBC Capital Markets said in a note on Wednesday.
The final reading this month for the manufacturing Purchasing Managers' Index for China from HSBC Holdings Plc and Markit Economics was 49.6, lowest in seven months. A figure below 50 signifies contraction. China is on course for the slowest year of economic growth since 1990, according to a Bloomberg survey. Imports into China unexpectedly fell in November and factory-gate prices have continued to slide, figures showed this month.
"There are concerns that China's PMI reading will remain weak," RBC Capital Markets said in a note on Wednesday.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%