Copper fell to the lowest since 2017 as investors faced fresh evidence of a global slowdown and fading prospects for a deescalation in the U.S.-China trade war.
Long known as a canary in a coal mine for the economy, copper has slid 14% from this year’s high in mid-April on the back of a manufacturing slump and warnings that major economies are heading into recession. Prices fell 0.2% to settle at $5,610 a metric ton on the London Metal Exchange. A gauge of copper-producer shares headed for the biggest loss in more than two weeks.
