{"id":1115847,"date":"2019-05-13T22:39:39","date_gmt":"2019-05-13T22:39:39","guid":{"rendered":"http:\/\/www.mining.com\/?p=987443"},"modified":"2019-05-13T22:39:39","modified_gmt":"2019-05-13T22:39:39","slug":"copper-nickel-zinc-prices-sink-on-china-car-sales-trade-war","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1115847","title":{"rendered":"Copper, nickel, zinc prices sink on China car sales, trade war"},"content":{"rendered":"

The price of copper dropped to a 15-week low on Monday after China fired back in the mounting trade war with the US.\u00a0In afternoon trade, copper for delivery in July touched $2.709 a pound ($5,972 a tonne), down 2.4% from Friday\u2019s settlement.<\/p>\n

China will match 25% tariffs on $60 billion of goods imported from the US including precious stones like diamonds, rubies and emeralds, iron ore, and nickel, zinc and titanium. Lithium was spared and will continue to attract a 5% duty.<\/p>\n

On Friday the US hiked tariffs on $200B of Chinese imports with nearly 6,000 products now incurring a 25% levy, up from 10% previously. The US imports some $540B worth of goods from China per year, while Beijing lets in $120B worth of imports.<\/p>\n

\"Copper,<\/p>\n

Source: LME, Comex<\/p>\n<\/div>\n

China imports nearly half of the world\u2019s copper, and the country\u2019s economic growth had been slowing well before the trade dispute began to impact the outlook for industrial metals.<\/p>\n

Cars and electronics<\/h3>\n

China also imposed higher duties on a range of electronics and home appliances including television cameras, telecom equipment and microwaves.<\/p>\n

In a note last week, Capital Economics points out that certain metals are \u201cmuch more exposed to disruptions to US-China trade than others.\u201d Given that electronics make up around 30% of total US imports from China, the prices of metals which are used widely in the electronics sector, tin in particular, appear especially at risk, the research firm said.<\/p>\n

Apart from aluminum, which found support from news of refinery shutdowns in China, base metals declined across the board on Monday with the lead price dropping to a near three-year low. Also depressing prices was data showing that vehicle sales in China fell nearly 14.6% in April from last year, the 10th consecutive month of year on year declines.<\/p>\n

Passenger car sales were harder hit, decreasing 16.6% year on year to 1.54m units last month, the 11th consecutive decline. Domestic sales for battery powered and hybrid cars came in at 91,000 units, down 17% from March but up 28.4% compared to the same month in 2018.<\/p>\n

The post Copper, nickel, zinc prices sink on China car sales, trade war<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Near 17% decline in Chinese car sales in April – the 11th monthly drop in a row – compounds impact of Washington-Beijing trade salvoes.<\/p>\n

The post Copper, nickel, zinc prices sink on China car sales, trade war<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[404,369,428],"tags":[30,33],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115847"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1115847"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115847\/revisions"}],"predecessor-version":[{"id":1116015,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115847\/revisions\/1116015"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1115847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1115847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1115847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}