Investing.com - Copper futures declined on Tuesday, after data showed that China's services sector grew at its slowest pace in nearly nine years in July.
On the Comex division of the New York Mercantile Exchange, copper for September delivery dipped 0.16%, or 0.5 cents, to trade at $3.239 a pound during European morning hours.
Prices held in a narrow range between $3.236 and $3.249 a pound. Copper ended Monday’s session up 0.92%, or 2.9 cents, to settle at $3.244.
Futures were likely to find support at $3.199, the low from August 4 and resistance at $3.262, the high from July 30.
Data released earlier showed that the HSBC/Markit China services purchasing managers' index fell to 50.0 in July from a 15-month high of 53.1 in June.
It was the lowest reading since November 2005, indicating a recovery in the broader economy remains fragile and may need further government stimulus.
The dismal data came after an official report released over the weekend showed that activity in China's services sector weakened to a six-month low of 54.2 in July from 55.0 in June.
China is the world's biggest buyer of copper, accounting for roughly 40% of the market.
Elsewhere on the Comex, gold for December delivery tacked on 0.34%, or $4.40, to trade at $1,293.30 a troy ounce, while silver for September delivery picked up 0.2%, or 4.0 cents, to trade at $20.27 an ounce.
Investors were looking ahead to data on June factory orders and July’s ISM-non manufacturing PMI later in the session for further clues about the strength of the U.S. economy.
Data last week was mixed, with the second-quarter gross domestic product rebounding sharply even as jobs growth in July slowed down.