Copper and other non-ferrous metal prices fell after Trump’s threat to impose new duties on goods from China, Reuters reported.
Benchmark copper price at the London Metal Exchange has fallen by 1.9% to $ 5,090.50 per tone at official trading and is on the way to a 1% weekly loss.
The Shanghai Futures Exchange was closed on public holidays and will resume operations on Wednesday. Some European countries have also declared public holidays.
The price of copper fell over 40% from mid-January to mid-March, reaching a four-year low of $ 4,371 due to the suspension of the industry amid coronavirus. Nevertheless, prices have slightly recovered amid the supply disruption caused by the quarantine and the weakening of coronavirus restrictions by China, which is the main consumer.