Copper price lowest in 3 months on weak economic data out of China
Concerns over the property sector have resurfaced due to the potential debt restructuring by Country Garden, China's leading private property developer.
"The short-term drive is upward but the valuation is on the high side, and the risk of volatility will increase in June-July," Zhongzhou Futures analysts said.
China, the world’s biggest producer of magnet rare earth oxides could stop exporting the group of minerals within the next decade due to increasing domestic demand and a shortage in global supply.