Copper Dips Below $6,000 as China Sends Metals Into Freefall
- Most main metals drop in London as dollar extends monthly gain
- Copper falls about 17% from June peak, approaching bear market
This article is for subscribers only.
A new round of trade war tensions is sending metal markets into a tailspin.
Copper crashed through $6,000 a metric ton for the first time in a year and is heading for its biggest monthly drop since 2015. Zinc, lead, nickel and aluminum tumbled as the dollar rose for a third day. An index of copper-mining companies headed for the lowest close since 2016, paced by losses in Freeport-McMoRan Inc. and First Quantum Minerals Ltd.