Copper prices are trading lower for the second day as traders weigh deteriorating economic conditions amid rising rates that are trickling down into the economy. The United States’ manufacturing sector fell into contraction in October, according to a purchasing managers’ index (PMI) from S&P Global. The headline manufacturing figure crossed the wires at 49.9, down from 52 in September. A reading below 50 indicates contraction, whereas a reading above 50 indicates expansion.
