Copper hits one-week low on China demand concerns, oil surge

Copper fell to a one-week low in Monday trading as weaker China demand signals and a rise in oil prices pressured industrial metals, according to Reuters-syndicated market reporting.

The move came as traders assessed fresh Chinese data that pointed to softer momentum in the world’s second-largest economy. China’s official statistics bureau said April manufacturing PMI was 50.3, down slightly from March, while industrial output grew 4.1% in April and 5.6% in the first four months of 2026.

Higher oil prices also added to cost pressures across commodities markets, amplifying the pressure on metals tied closely to manufacturing and construction demand.

The Reuters report said copper’s decline reflected concern that Chinese demand may be cooling after a period of stronger activity. Later intraday price action was not confirmed in the available reporting.

The market reaction leaves copper trading sensitive to further signs on China’s industrial momentum, energy costs and broader metals demand in the days ahead.