The most-active July copper contract on the Shanghai Futures Exchange dipped 0.4 percent to 58,030 yuan ($9,200) a tonne on Friday, reversing course from early gains. China's economy grew slower than expected in the first quarter, reviving doubts about second-quarter demand from the world's biggest copper user.
Analysts said there was a silver lining in the disappointing GDP data. "Investors are also hoping that weaker economic growth will lead to more monetary easing by Beijing," said Andy Du, director for derivatives at Orient Futures.
Comments
Comments are closed.