Industrial Metals Slump as Sentiment on China Demand Worsens
- Push to tackle property glut won’t help steel demand: analyst
- Base metals also fall as investors mull China stimulus plans
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Industrial metals from copper to iron ore slumped on investor doubts that China’s latest moves to shore up the property market will do enough to boost construction activity.
Iron ore futures fell more than 5% to trade below $100 a ton in Singapore, while tin, zinc and nickel paced declines for non-ferrous metals on the London Metal Exchange.