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Copper down amid industrial metal sell off

The price of copper fell nearly 1% in early trading on the LME as rising COVID cases in Europe and dodgy growth outlooks spooked global markets.
Copper down amid industrial metal sell off Copper down amid industrial metal sell off Copper down amid industrial metal sell off Copper down amid industrial metal sell off Copper down amid industrial metal sell off

Staff reporter

Shares in Anglo American were down nearly 3% by 10am London time, with Rio Tinto down 2.2% and BHP down by 1.45%.

China's National Food and Strategic Reserves Administration has made good on its pledge to auction off state metal reserves, confirming on Wednesday it had put 100,000t of metal on the market on July 5 in a bid to cool metal prices.

Gold has risen again to US$1,813/oz, with the US 10-year down 2.67% to 1.28%.

Brent was down $72.60/bbl as fallout from the failed OPEC talks continued.

And of course most importantly: England will play Italy at Wembley on Sunday in the final of the European Football Championship, after scraping past Denmark last night courtesy of a (very) iffy extra time penalty.