Weak manufacturing data hurts copperIn trading on Thursday, copper futures fell after reports indicated that a slowdown in manufacturing in China and the U.S. could hurt the global economic recovery.

According to Bloomberg, copper futures dropped on Thursday after the Institute for Supply Management said manufacturing activity in the U.S. grew at its weakest rate in nearly two years in May. What's more, Chinese officials said May's industrial production in the country was its weakest since August, stoking fears that a slowdown in manufacturing could stall the nascent economic expansion.

Deutsche Bank analyst Daniel Brebner said that manufacturing is having a big impact on copper prices.

"The market is starting to take more seriously the prospect of a meaningful slowdown in growth in the western world, and potentially in China," Brebner affirmed.

On the Comex in New York on Thursday, copper futures for July delivery declined by 2.2 cents to close at $4.08 per pound.

Copper is often used in construction and is an essential component in the production of a myriad of products including appliances and automobiles. 
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