Comex copper futures for September delivery -1.1% to $2.6875/lb. after comments from Pres. Trump dimmed hopes for a U.S.-China trade deal anytime soon, and he also accused Beijing of not holding up its end of previous agreements.
Copper prices have fallen ~10% below their April peaks, hit by fears that trade tensions and slowing economic growth will hurt demand.
Analysts are keeping a close eye on copper and other industrial metals amid trade uncertainty because China is the largest source of demand, accounting for roughly half of global copper consumption.
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