Commodity Capsule: Industrial Metals Creep Lower post Weak trade data

Prices of copper drifted lower on Tuesday amid weak trade data in China and firm dollar. In the first seven months of 2023, China's copper imports fell 20.7% to 3.3 million metric tons, compared with a year-earlier, the customs data showed. China's manufacturing activity contracted for 4th consecutive month in July. Markets are now focused on US and China inflation data this week.