The US election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump’s trade war against China threatens to derail economic growth. Copper has sunk to an almost one-year low and has fallen 16% from a high in June. All the major metals were in the red on Wednesday as the US unveiled tariffs on $200bn worth of Chinese-made products. Mining stocks also took a hit, with Glencore and Kaz Minerals falling more than 4%. Even gold, considered a haven asset, fell as trade angst boosted the dollar, making commodities more expensive for holders of other currencies. Industrial metal markets are often viewed as an economic bellwether and the losses suggest that traders are starting to price in a slump in global growth. Manufacturing gauges are already showing signs of weakness after a run of strong performance, and the fear is that more tariffs will further dent economic activity. "The jum...
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