Copper eases

Melbourne: London copper slipped but held above recent one-year lows on Monday after China´s second-quarter growth slowed as expected, with the focus expected to shift to Beijing´s response to the latest US tariffs plan.

China´s economic growth slowed in the second quarter as the government´s efforts to tackle debt risks crimp activity and an intensifying trade war with the United States threatens to knock exports.

At 6.7 percent, growth came in line with expectations, said analyst Lachlan Shaw of UBS in Melbourne, which suggests markets will now watch China for any formal response to the US´s tariff plans.

There is some evidence that China has begun easing credit restrictions, which would be supportive mostly for bulks and to a lesser extent to copper and aluminium, he said.