COPPER PLUNGES AS CHINESE PMI FAILS TO LIFT SENTIMENTS
DATE: 23/04/2012
Copper prices plunged over a percent in electronic trades on week’s first trading session as the HSBC Flash PMI survey of industrial activity in top consumer China indicated manufacturing sector gained some momentum in April, coming at 49.1 in April from a final reading of 48.3 in March but still remained below the level that signifies expansion for the sixth straight month, failing to lift sentiments. Investors also remained wary of adding fresh positions ahead of similar data from the Eurozone, Germany and France.
Copper for three-month delivery on the London Metal Exchange plunged $88.50 or 1.1% to $8,190 a tonne.
POWERED BY: COMMODITY INSIGHTS
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