The price of copper has fallen to its lowest level since mid-2017 on Tuesday on the back of a firmer US dollar and the ongoing US-China trade spat.
Due to its wide range of uses in construction and industry, copper is viewed as a bellwether for the global economy. As such, selling copper is the default mechanism for investors who have bearish views on growth and China, the world’s biggest consumer of the metal.
Copper for delivery in three months fell as much as 1.8 per cent to $5,518 a tonne on Tuesday, before recovering to $5,614. It has fallen 14 per cent since late April.
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