Shares of several metal companies are trading lower on possible weakened metal demand in China amid escalated fears about the economic health of the country following weak industrial production and retail sales data for July and rate cuts from the PBOC.
Portfolio Pulse from Benzinga Newsdesk
Shares of metal companies are trading lower due to potential weakened metal demand in China. This is due to concerns about China's economic health following weak industrial production and retail sales data for July, and rate cuts from the People's Bank of China.
August 15, 2023 | 3:12 pm
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NEGATIVE IMPACT
Freeport-McMoRan Inc. (FCX) shares are likely to be negatively impacted due to potential weakened metal demand in China.
As a major metal company, Freeport-McMoRan Inc. (FCX) is likely to be negatively impacted by the potential weakened metal demand in China. This is due to concerns about China's economic health following weak industrial production and retail sales data for July, and rate cuts from the People's Bank of China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Teck Resources Ltd. (TECK) shares are likely to be negatively impacted due to potential weakened metal demand in China.
As a major metal company, Teck Resources Ltd. (TECK) is likely to be negatively impacted by the potential weakened metal demand in China. This is due to concerns about China's economic health following weak industrial production and retail sales data for July, and rate cuts from the People's Bank of China.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80