(Bloomberg) -- Base metals joined a selloff across Chinese risk assets on doubts over how much impact the government’s pro-growth push will have on demand.
Copper, nickel and zinc all fell by more 1% on the London Metal Exchange as sentiment across China’s financial markets turned sour again. Copper is heading for its lowest close since late September, before Beijing unveiled a flurry of measures aimed at boosting the economy.
The past few weeks have witnessed volatile trading across commodities as investors weigh the Asian nation’s vows to reboot growth against weaker economic data and calls for more powerful stimulus. Chinese stocks and currency also weakened on Tuesday.
Copper was down 1.2% at $9,548 a ton as of 4:09 p.m. in London, while nickel dropped 1.5% and zinc fell 1.8%.
--With assistance from Mark Burton.
©2024 Bloomberg L.P.