Shares of metals stocks are trading lower following a drop in China's May industrial profits. Potential economic weakness in China could negatively impact metals demand.
Portfolio Pulse from Benzinga Newsdesk
Metals stocks are trading lower due to a decrease in China's May industrial profits. This suggests potential economic weakness in China, which could negatively impact metals demand.
June 28, 2023 | 2:28 pm
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NEGATIVE IMPACT
Freeport-McMoRan's stock is likely to be negatively impacted by the potential economic weakness in China.
As a major player in the metals industry, Freeport-McMoRan's performance is closely tied to global metals demand, which could be negatively impacted by economic weakness in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
POSCO's stock is likely to be negatively impacted by the potential economic weakness in China.
As a major player in the metals industry, POSCO's performance is closely tied to global metals demand, which could be negatively impacted by economic weakness in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Rio Tinto's stock is likely to be negatively impacted by the potential economic weakness in China.
As a major player in the metals industry, Rio Tinto's performance is closely tied to global metals demand, which could be negatively impacted by economic weakness in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Southern Copper's stock is likely to be negatively impacted by the potential economic weakness in China.
As a major player in the metals industry, Southern Copper's performance is closely tied to global metals demand, which could be negatively impacted by economic weakness in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Vale's stock is likely to be negatively impacted by the potential economic weakness in China.
As a major player in the metals industry, Vale's performance is closely tied to global metals demand, which could be negatively impacted by economic weakness in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100