Copper prices dropped by 0.83% to 720.95 following data revealing the sluggishness of China’s post-pandemic economic rebound.

China’s Economic Indicators: In July, China’s new bank loans plummeted, leading to a slowdown in annual growth of outstanding total social financing (TSF) to 8.9%.

Copper Inventories and Production: Copper inventories in Shanghai Futures Exchange-monitored warehouses rose by 1.5% in a week.

Regional Dynamics: While some deliverables in east China were sought-after, overall transaction sentiment remain weak. In contrast,

Outlook and Impact: The slowdown in China’s post-pandemic recovery, coupled with property sector concerns, has put pressure on copper prices.