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29-Jan2019

Copper futures end lower after downbeat China data

Copper futures ended lower on Monday as Industrial companies in China reported a second monthly fall in earnings in December, despite the government's efforts to support borrowing and investment. Industrial profits in China in December fell 1.9 percent from a year earlier to 680.8 billion yuan, weighed down by weak factory-gate prices and soft demand. This is on top of a decline of 1.8 per cent in November - the first contraction in profits in nearly three years.

Copper futures for March delivery fell 1.8 percent to settle at $2.68 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange ended down 0.89 percent at $6,002 a tonne.


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