SHANGHAI: Industrial metals including copper opened the week with steep losses on concern the US-China trade war is set to get much worse, with President Donald Trump prepared to hit the mainland with another round of levies, damping prospects for demand in the world’s largest consumer.
Nickel lead the retreat, tumbling as much as 3.2% to US$12,250 a tonne on London Metal Exchange before trading at US$12,350 at 9:57 am in Shanghai. Copper declined 1.4% to US$5,892.50, while aluminum sank 1.2%.
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