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Mining majors slump

Mining heavyweights dropped on stock markets around the world yesterday as commodity prices tumbled on continuing concerns over trade and Turkey contagion.
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Slight lift in commodity futures today

Staff reporter

However commodity futures were on the rise this afternoon, following reports China would resume trade talks with the US later this month.

Copper futures were showing a gain of 1.63% at the time of writing but remain near a 13-month low.

Metals and mining stocks sank 5.93% in New York yesterday, with Freeport-McMoRan (NYSE: FCX) closing down 7.7% and Newmont Mining (NYSE: NEM) down 6.3%.

On London's FTSE100, the metals and mining sector fell 4.92% yesterday.

Anglo American (LSE: AAL) closed 6.2% lower and Glencore (LSE: GLEN) was down more than 5.6%.

The S&P/TSX Composite Index's metals and miners were down 5.65% and IAMGOLD (TSX: IMG) lost more than 8.1%.

In Australia, the benchmark S&P/ASX200 had metals and mining stocks down more than 2% at the time of writing.

BHP (ASX: BHP) was down more than 2.3% and diversified miner and services company Mineral Resources (ASX: MIN) was 7.2% lower in afternoon trade.