9th December 2013
Copper prices have fluctuated in commodities trading markets today (December 9th), following the release of latest trade data from China, the world's largest consumer of the precious metal.
Figures released by the country's General Administration of Customs showed China imported 435,613 metric tonnes of the metal in November, a 4.8 per cent decrease on the previous month. Last year, the Asian nation was responsible for almost two-fifths of global copper consumption.
It was also revealed consumer price inflation slowed to three per cent last month, down from 3.2 per cent in October.
Investors are now looking ahead to further Chinese data due later in the session, which will include reports relating to retail sales, fixed asset investment and industrial production.
Copper for March delivery fluctuated in a tight range around $3.238 per pound, little-changed for the session, on the New York Mercantile Exchange in early European trading. This comes after the contract added 0.59 per cent on Friday, following the release of key US employment data.
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