China's manufacturing sector activity shrank in March for a fifth successive month, with the overall rate of contraction accelerating and new orders sinking to a four-month low, The PMI, the earliest indicator of China's industrial activity, fell back from February's four month high, slipping to 48.1
Copper Selling pressure
BHP Billiton, the world's biggest miner, said there were signs of "flattening" iron ore demand from China. Chinese economy will grow by 7.5% for 2012, significantly lower than the 9.2% growth last year, and 10.4% in 2010.China increased fuel prices
Copper futures came under heavy selling pressure, as growing fears over a deeper-than-expected slowdown in Chinese economic growth sparked concerns over future demand prospects for the industrial metal.
USD Building Permits
USD Building Permits (Annualized number of new residential building permits issued during the previous month) Actual -0.72M ; Forecast- 0.69M; Previous- 0.68M