China's economy slowed significantly in April as key indicators released on May 18 missed market expectations. Industrial production rose 4.1% year-on-year. This result fell short of the 6.0% forecast. Retail sales grew 0.2%. This was significantly below the 2.0% consensus. Fixed-asset investment unexpectedly contracted by 1.6% during the first four months of the year.
London Metal Exchange (LME) copper fell 0.35%, hitting a one-week low. Prices reached $13,507.50 per metric ton in early trading. A stronger U.S. dollar further pressured prices by making the commodity more expensive for non-dollar holders. The data increases pressure on Beijing to provide immediate policy support to stabilize national growth.