Copper Prices Flatline as China manufacturing data Struggles in March

The price of copper today remained unchanged at 780.50 as the month of March factory development in China slowed.

Meanwhile, Chinese Yangshan copper import prices have decreased from $50 in mid-March to $35.50 perton, indicating a lackluster market for the foreign metal.

According to the nations INE statistics agency, copper production in Chile. The biggest producer in the world, decreased 3.7% year over year to 384.462 tonnes in February.

The new prices are less expensive than the projected charges for the first quarter of this year. Which were established at ninety-three per tonnes and 9.3 cents per pound.

Currently, copper is receiving support at 774.50. And a move below that level could result in a test of 769.50 levels. Resistance is now expected to be seen at 783.40. And a move above could result in prices testing 787.00.