Metals Decline as Rising China Tensions Spark Risk-Off Sentiment
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Metals including aluminum and iron ore declined as moves by US President Donald Trump to restrict Chinese investments undermined market sentiment, with raw materials losing ground along with onshore equities.
Aluminum dropped for a third day on the London Metal Exchange, extending a retreat from the highest level since May touched last week. Chinese stocks sank after the US took aim at Beijing, with Trump telling a key government committee to curb Chinese spending on tech, energy and other strategic American sectors. China is the largest consumer of industrial metals.