Copper rebounded from a three-month low, helped by China's PMI data|copper tube fittings



SingaporeSeptember 23, copper rebounded from a three-month low on Tuesday, with its better-than-expected manufacturing data, but lackof cash buying suggests that copper and other industrial metals hasnot yet escaped the downturn.
Nickel unaffected by the HSBC China manufacturing purchasingmanagers ' index (PMI) initial impact lost more than 3% since Aprillows, amid fears the global oversupply. Other funds are holdingfirm, but held steady at more than one-month low point.
HSBC (HSBC)/Markit Tuesday jointly announced "the HSBC Chinamanufacturing purchasing managers ' index (PMI) Preview" thatinitial September PMI rebounded to 50.5. This is the fourthconsecutive month in boom and bust the watershed above the value of50.2 last month.
0346 GMT on the London Metal Exchange (LME), three-month copper rose $ 0.54% to $ 6,757 per ton. On Monday fell to 6,707. $ 25 for athree-month low.
Copper prices have fallen so far this year more than $ 8%, mainlydue to concern over China's economic growth. China is the world's biggest copper consumer, consumption accounted for 40% of the world.
Increased supply is expected to weigh on prices. Newmont Mining(Newmont Mining) said on Monday after a Government export license isobtained, is expected to export copper concentrate will return toIndonesia this week, heralding the tax dispute is over eight months.
Shanghai copper futures exchange starting November hit a intradaylow of 47,710 Yuan per ton, low level since June 20.
The dollar index hovered slightly below the four-year high on Tuesday; the euro held steady near a 14-month low, due to theseller's waned.




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