{"id":8154,"date":"2023-05-13T08:14:37","date_gmt":"2023-05-13T12:14:37","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/silver-copper-futures-drop-after-benign-china-inflation-data\/"},"modified":"2023-05-13T08:14:38","modified_gmt":"2023-05-13T12:14:38","slug":"silver-copper-futures-drop-after-benign-china-inflation-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8154","title":{"rendered":"Silver, copper futures drop after \u2018benign\u2019 China inflation data"},"content":{"rendered":"
\n

Silver futures suffered their largest one-day percentage loss in over three months, and copper futures settled at their lowest since November, as economic data from China dulled demand prospects for the industrial metals. <\/p>\n

Some commodities, such as copper and silver, fell sharply Thursday because of a rebound in U.S. dollar and concerns over China, said Fawad Razaqzada, market analyst at StoneX.<\/p>\n

\n

Indeed, industrial metals took a hit. The most-active July silver futures contract
\n SIN23,
\n -1.20%<\/bg-quote><\/p>\n

SI00,
\n -1.20%<\/bg-quote>
\n fell $1.23, or 4.8%, to settle at $24.42 an ounce. The day\u2019s percentage drop was the largest daily decline for most-active silver futures since Feb. 3, according to Dow Jones Market Data. <\/p>\n

July copper
\n HGN23,
\n +0.42%<\/bg-quote><\/p>\n

HG00,
\n +0.42%<\/bg-quote>
\n fell 13 cents, or 3.4%, to settle at $3.71 a pound, the lowest most-active finish since Nov. 29.<\/p>\n

\u201cThe weakness in Chinese inflation data has intensified concerns about demand from the world\u2019s second largest economy, where the recovery appears to be fading alarmingly,\u201d Razaqzada said in market commentary, referring to China\u2019s CPI and PPI data overnight as \u201cbenign.\u201d<\/p>\n

China\u2019s consumer inflation eased to its lowest level in more than two years, as food and nonfood prices moderated, official data showed Thursday. The consumer-price index rose 0.1% in April from a year earlier, slowing from a 0.7% rise in March, the National Bureau of Statistics said. <\/p>\n

Separately, new yuan loans issued by Chinese banks in April came in lower than market expectations, which could provide less support to the world\u2019s second-largest economy. <\/p>\n

<\/p>\n
\n

\n \u201c<\/span>The steep drop-off in China\u2019s new bank loans in April is a \u201cclear indication of a recovery that is stalling.\u201d \u201d<\/span>\n <\/p>\n


\n \u2014 Edward Meir, Commodity Research Group<\/span>
\n <\/small><\/p><\/div>\n<\/p><\/div>\n

China\u2019s new bank loans in April fell to about $104 billion, \u201cless than a fifth of March\u2019s tally and half of what was expected,\u201d said Edward Meir, founder of Commodity Research Group, in written commentary for Marex. <\/p>\n

\u201cThe steep drop-off in loans is a clear indication of a recovery that is stalling,\u201d he said.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Silver futures suffered their largest one-day percentage loss in over three months, and copper futures settled at their lowest since November, as economic data from China dulled demand prospects for the industrial metals. Some commodities, such as copper and silver, fell sharply Thursday because of a rebound in U.S. dollar and concerns over China, said […]<\/p>\n","protected":false},"author":1,"featured_media":8155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-8154","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nSilver, copper futures drop after \u2018benign\u2019 China inflation data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Silver futures suffered their largest one-day percentage loss in over three months, and copper futures settled at their lowest since November, as economic\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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