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The price of copper reached its lowest level in the last three months on Monday because of the decline in demand from the world's largest consumer, China, which is in the throes of a trade dispute with the United States. Three months on the London Metal Exchange (LME) fell 0.5% to US $ 6,590 per tonne, after reaching US $ 6,550, its lowest level since March 26.
The prices of metal used The energy and construction have fallen by 10% since June 7.
"Investors are getting rid of risky positions because of trade tensions that threaten China's exports to the United States, and also their profit margins," said John Meyer, an badyst at SP Angel. "Industrial metals depend on China."
China accounts for nearly half of world copper consumption, estimated for this year at about 24 million tonnes.
US President Donald Trump imposed tariffs on the importation of Chinese products, among other countries, generating retaliatory actions and increasing fears of a global trade war.
The growth of the Chinese manufacturing industry slowed down slightly in June in the face of higher cost fears for companies. a decline in export orders in a context of increasing trade tensions with the United States, as shown by a private survey
A strong dollar also weighed on industrial metals, making commodities listed on the market. green ticket more expensive for buyers who operate with other currencies.
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