With that slowdown comes concern about copper supplies lagging behind demand for the remainder of 2011.
"There has been a lot of bearish economic data and that has scared many investors away," Tao Jinfeng, an analyst at Jiangsu Donghua Futures, told the news service. "While economic uncertainties will keep the market volatile, there are still many who believe the fundamentals are strong, especially for copper."
At 12:46 p.m. on Thursday, copper futures slipped 0.01 percent, a 0.0005 cent dip to $4.108 per pound.
Dow Jones Newswires reports a trader based in Singapore said copper futures might drop as a result of the U..S.' economic slowdown and the sovereign debt crisis in Europe. Payroll data in the U.S., the globe's second-largest user of copper, is likely to reduce investor demand.
Non-farm payroll increased 54,000 during the month of May, representing a significant shortfall to the 160,000 that economists forecast, according to a Dow Jones Newswires poll. The metric is concerning as it reveals a sharp slowdown in hiring.
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