Investing.com - Copper futures held near the previous session’s seven-month low during European morning hours on Tuesday, after Monday’s disappointing U.S. and Chinese manufacturing data raised concerns over the strength of the global economic recovery. On the Comex division of the New York Mercantile Exchange, copper futures for May delivery traded at USD3.377 a pound during European morning trade, up a modest 0.1% on the day. New York-traded copper held in a tight trading range between USD3.362 a pound, the daily low and a session high of USD3.385 a pound. Comex copper prices fell to USD3.341 a pound on Monday, the weakest level since August 16. The Institute of Supply Management said its U.S. manufacturing purchasing managers’ index declined to 51.3 in March, its lowest level since December, from 54.2 in February. Analysts had expected the PMI to remain unchanged last month. Meanwhile, in China, government data showed that manufacturing activity in China rose by 0.8 points to 50.9 in March, below expectations for a gain of 1.5 points to 51.6. China is the world’s largest copper consumer, accounting for almost 40% of world consumption last year. The industrial metal was further weighed after weak manufacturing data out of the U.K. and the euro zone fuelled concerns over the outlook for global growth. Revised data showed that manufacturing activity in the euro zone contracted for the 20th consecutive month in March, while the U.K. manufacturing sector shrank for the second straight month. Copper is sensitive to the global economic outlook because of its widespread uses in construction and manufacturing. Elsewhere on the Comex, gold for April delivery dipped 0.1% to trade at USD1,599.15 a troy ounce, while silver for May delivery added 0.1% to trade at USD27.98 a troy ounce. Comex silver prices fell to USD27.86 a troy ounce on Monday, the lowest level since August 16.

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