Futures on copper fell in price to 3.47 dollars per pound on concerns about the decline in demand in China.

Sorreg price is declining for the third trading session in a row on uncertainty in the demand for industrial metals after the release of Chinese industrial statistics, according to trading data.

September futures on copper on the Comex exchange fell by 1.66% to $3.4725 per pound (about 0.45 kilograms). Copper has fallen in price for the third session in a row. During this time, the metal has fallen by a total of 3.3%.

At the end of previous trades on the London Metal Exchange (LME), the cost of a ton of copper with delivery in three months decreased by 1.24% to $7819.5, aluminum – by 2.33%, to $2430.5, zinc – rose by 0.59% to $3328.

China’s manufacturing PMI fell to 50.4 points from June’s 51.7 points, according to business publication Caixin.

China is the largest consumer of copper, so the statistics related to its industry reflects on expectations around demand for the metal.