Base Metals Preview: Copper Slips Amid China Demand Woes

10 Aug 2022 , 08:46 AM

Copper prices edge lower in early Asia on Wednesday as Chinas factory-gate inflation eased to its weakest since February 2021, as raw material prices fell due to already slower construction activity, while consumer prices rose slightly. Producer price index (PPI) rose 4.2% year-on-year while consumer price index (CPI) increased 2.7% from a year earlier. Meanwhile, the Nasdaq tumbled 150.53 points or 1.2 percent to 12,493.93 and the S&P 500 fell 17.59 points or 0.4 percent to 4,122.47.0 The Dow posted a more modest loss, edging down 58.13 points or 0.2 percent to 32,774.41. COMEX copper was quoting lower by 0.66% at $3.56 per pound. Powered by Commodity Insights