China's PMI Indices Decline in July, Impacting Copper Demand and Consumption Recovery

Published: Jul 31, 2026 15:52

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[SMM Copper Express] The National Bureau of Statistics (NBS) released data showing that the manufacturing PMI, non-manufacturing business activity index, and composite PMI output index all pulled back in July, weakening the overall business production and operation climate. Overall manufacturing demand was under pressure, which weighed on copper semis purchase willingness in traditional sectors such as home appliances and general machinery, dragging down the pace of recovery in copper consumption in the short term.

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