Commodities
Copper Plunges Most in 5 Years as Tariffs Slam Metals and Miners
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Copper prices plunged below $9,000 a ton in the biggest drop since March 2020 as worries over the impact of a worsening trade war sparked a heavy selloff in metals and mining equities.
The bellwether metal fell 6.3% to settle at $8,780 a ton in London on Friday, as losses accelerated across the industrial metals markets following Thursday’s heavy selloff. Copper traded on New York’s Comex also tumbled, on course for the biggest two-day decline since 2011. Nickel on the London Metal Exchange plunged to the lowest price since 2020.