METALS-London copper cracks new two-year peak after China data...

METALS-London copper cracks new two-year peak after China data
31/07/17 17:45

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   Patches of copper ore are seen in a core sample inside a Resolution Copper Mining facility in Superior, Arizona, June 14, 2017.
   (Adds detail, updates prices)
   London copper rallied to its highest since more than two years on Monday after manufacturing data from top user China confirmed growth tempered slightly but stayed firm in July.
   Growth in China's manufacturing sector cooled as foreign demand for Chinese goods slackened, but a government-led infrastructure push kept construction humming and helped prop up the world's second-largest economy.
   "It's still a strong figure," said Amy Li of the National Australia bank in Melbourne, adding that policy makers were likely to ensure smooth sailing for China's economy ahead of a leadership meeting in October.