Meanwhile China could be combatting new tariffs through the manipulation of commodity prices, broker SP Angel noted, referring to a Financial Times report on the liquidation of a $1 billion bet on copper futures in Shanghai which triggered a violent sell-off.
Copper is down around a 12-month low, a little over US$6,300 per tonne.
BHP (ASX: BHP) was down more than 1% in afternoon Australian trade and copper producer Sandfire Resources (ASX: SFR) was more than 1.9% lower.
Toronto's metals and mining stocks had finished just 0.03% lower yesterday.
At the junior end of town, Argentum Silver (TSXV: ASL) rose more than 41% to C24c on its agreement to acquire 80% of the Vanadium Ridge property in British Columbia.
The gold price is about $8 an ounce lower than this time yesterday and remains just over $1,250/oz.
Gold major Newmont Mining (NYSE: NEM) had closed up slightly, by 0.3%, in New York yesterday as the S&P500 rallied near its highest point since February.
However futures on the equity benchmark were down around 0.7% this morning London time, Bloomberg reported, as trade anxiety resurfaces.