China to Surpass US Economy, but Weak Growth Still Weighing on Copper

China’s lukewarm economic growth may have been enough to keep investor hopes up in recent weeks, but it seems that the most recent news has finally impacted copper. Despite recent indications that China’s economy will soon be greater than that of the United states, Reuters reported today that Chinese data was weak again, as the nation’s purchasing manager’s index increased only barely from 50.3 in March to 50.4 for April.

The red metal has fallen overall this week, and continued its decline today as copper for July delivery fell 0.2 percent to $3.215 a pound today on the Comex division of the New York Mercantile Exchange, according to the Wall Street Journal. Copper on the London Metal Exchange tumbled slightly as well, coming in at $6,662 on Wednesday, according to Reuters.