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Materials Down After Weak Chinese Data -- Materials Roundup

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12/10/2018 | 04:30pm EDT

Producers of metals and other raw materials fell after weak Chinese economic data. November's official purchasing managers index showed the factory sector on the verge of contraction for the first time since mid-2016 and the job market weakening in services and construction, as reported earlier. Fears that a trade war with the U.S. was having a chilling effect on the economy weighed on copper prices. Shares of the world's largest copper miners, including Antofagasta, Anglo American, Rio Tinto and Glencore, fell. Shares of German chemicals processor BASF tumbled after it forecast a considerable drop in profit for the year, citing the effects of record low water levels on the Rhine river and the U.S.-China trade war. Soren Schroder, chief executive of grain trader Bunge, stepped down from his position, as the company sought to address concerns among activist investors.

-Rob Curran, rob.curran@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
LME COPPER CASH 0.44% 5948 End-of-day quote.1.87%
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