Copper prices drop following China’s reduced manufacturing activity

On Thursday, copper prices were down by 0.78% to $3.51. The decline was a reaction to the lower-than-expected data on Chinese manufacturing PMI. Despite the downward trend, the red metal prices are finding support from news that China has approved its first COVID-19 vaccine for use by the public.   China records a decline in manufacturing activity Copper prices are reacting to today’s data on China’s manufacturing PMI. According to the country’s National Bureau of Statistics, December’s figures are 51.9. the readings missed analysts’ estimates of 52.0. This month’s manufacturing PMI is the first bearish reading after the country recorded