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LONDON .- Industrial metal prices dropped by more than one percent on Monday, with copper prices closing to minimum levels in seven months, due to lower prices demand from China, the world's largest consumer, and the trade dispute with the United States that is slowing down its manufacturing activity.
A strong dollar also weighed on industrial metals, making commodities listed in this currency more expensive for buyers operating in other currencies.
The dollar index rose 0.6% against a basket of 10 currencies
In this context, the three-month copper of the London Metal Exchange (19459003) closed with a decline from 1.6% to 6 thousand 523 dollars per ton, after having touched the minimum of 5 to 6 thousand 519 dollars.
Metal prices plummeted by more than 10% since June 7 this year.
China accounts for nearly half of world copper consumption, estimated for this year at about 24 million tonnes.
President Donald Trump imposed tariffs on imports of Chinese products, among other countries, generating retaliatory actions and increasing fears of a global trade war.
China's manufacturing growth slowed slightly in June, due to fears of rising business costs and a decline in export orders due to escalating trade tensions with the United States. private
Among other metals, aluminum fell 1.6% to $ 2,098 per ton, while zinc fell 1.1% to $ 2,822 and lead declined to $ 1,386.
While the price of tin remained unchanged at $ 19,750, and nickel fell 2.3% to $ 14,550.
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