Besides, Chinese demand woes continued to hurt following recent Moody’s downgrade and weak imports data. Moody’s downgraded Chinese sovereign debt rating on 23rd May’17 for the first time since 1989, adding to slew of worries regarding growth of the mainland nation.
Further, Chile produced 429,241 mt of copper in April, down 1.8% from a year earlier but up 13.5% on the month as output began to recover from a prolonged strike at the giant Escondida copper mine that halted production for most of February and March.
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