Industrial metals saw a decline across the board as investors grapple with uncertainty surrounding the Trump administration’s tariffs, while signs of weakness in China’s economy added to the murky global growth outlook.
Released on Sunday, Chinese inflation figures pointed to ongoing weakness in demand as the country deals with a prolonged property crisis. President Donald Trump also warned of a “period of transition” for the US economy following market turmoil fueled by his trade policies.
Copper extended its slide from a four-month high, dropping by 0.3% to $9,588 a ton on the London Metal Exchange by 10:23 AM Shanghai time. Aluminum also experienced a decline, while iron ore futures in Singapore eased to $100.40 a ton.
Despite the trade wars unleashed by Trump since taking office, industrial commodities have shown some resilience. The LMEX Index of six base metals reached its highest level in almost five months on March 6, and copper is up over 9% year-to-date.
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Published on March 10, 2025.
