- Commodity futures including iron ore, copper, zinc and aluminum all tumble, as the escalating trade conflict between the U.S. and China slams industrial metals directly affected by trade pacts as well as those hit by the risks of an economic slowdown.
- In Comex futures trading, July copper recently was -1.8% at $3.0515/lb., while copper on the LME was -1.7% at $6,843/metric ton from an earlier $6,836.50, its lowest since June 1.
- “With the escalation of trade conflict between the U.S and China, copper and other base metals will see lower prices,” says Commerzbank (DE:CBKG) analyst Daniel Briesemann. “Market participants fear tariffs on products made of copper and other base metals.”
- In pre-market trade: FCX -2.2%, TECK -2%, SCCO -1.5%, RIO -4.2%, BHP -3.9%, VALE -3.6%, AA -2.1%.
- ETFs: JJC, DBB, JJN, CPER, BOM, BDD, JJT, NINI, CUPM, LD, FOIL, JJM, BOS, RJZ, BDG, LEDD, UBM, HEVY, JJUB
- Now read: Is Copper All About Escondida?
Original article