Copper prices moved down on Monday as poor Chinese manufacturing data along with ongoing tensions in Ukraine helped pushing the copper prices down. Activity in China's manufacturing sector contracted for a fourth consecutive month in April, a private survey showed on Monday, adding to questions about whether the world's second-largest economy is still losing momentum. London Metals Exchange remained shut on Monday over Labor Day, resulting in lower volumes. We expect Copper prices to remain down for the day as poor Chinese data can push the prices further down. Other base metals can follow copper.
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