Base metals on LME were mixed today as investors’ exercised caution ahead of the release of US non-farm payroll data. The US jobs data is a crucial gauge of the country's economic health, and also provides cues for demand outlook for base metals as the US is one of the largest consumers of industrial metals. Prices took support from the US factory order data, which rose 3% on month in June, and also as the number of people filing for unemployment benefits in the US declined in July. However, a decline in US manufacturing activity and non-manufacturing Purchasing Manager's Index in July dampened investor sentiment.
Source: Newswire
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