Copper skidded to the lowest since mid-2017 as investors faced fresh evidence of a global slowdown and fading prospects for a deescalation in the US-China trade war.
Long known as a canary in the coal mine for the economy, copper has slumped 16% since mid-April on the back of a sharp downturn in factory output and warnings that major economies are heading into recession. Prices fell 1.8% to $5 520/t on the London Metal Exchange on Tuesday.