Copper falls as trade war escalates

Copper prices fell during today's trading as US President Donald Trump launched escalated the trade war against China again by threatening more tariffs.

President Trump said yesterday that the United States will impose 10 percent tariffs on imports of Chinese goods worth an additional $300 billion as of September 1.

These tariffs will be added when applied to other charges of 25 percent on imports of Chinese goods worth $250 billion.

Copper prices are heading for the biggest weekly loss since November, as the trade war has had a negative impact on the global demand on commodities and metals.

Copper prices on London market fell by 1.8 percent to $5,792 per tonne after recording $5761 per tonne, the lowest level in eight weeks.

On the US market, by 14:16 GMT, copper futures for September delivery fell by 3% to $258.7 per pound, with the highest at $262.7 and the lowest at $258.4.