Industrial Metals Deepen Retreat After Mixed China Economic Data [Yahoo! Finance Canada]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The world's second-biggest economy released a mixed bag of figures on Monday that highlighted a still-patchy recovery. While retail sales were stronger in May, industrial output and fixed-asset investment both posted slower growth, and home prices softened further. ADVERTISEMENT Metals have slumped over the past month in large part because of concerns that prices had risen too far relative to demand conditions in China. Investors are looking to a major gathering of China's leadership next month for potential policy pivots and more steps to prop up growth. Iron ore futures in Singapore were down 2.1% to $105.25 a ton at 10:44 a.m. local time after closing Friday with a third weekly decline. Copper, which closed Friday at a seven-week low, and aluminum both edged lower on the London Metal Exchange. Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.
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