Attempts by the Chinese authorities to cool metals prices sent copper to its lowest price in nearly two months, while aluminium and iron ore also came under pressureLondon’s big mining stocks struggled this morning after China’s latest move to rein in surging commodity prices. The Chinese authorities have reportedly told domestic companies to curb their commodity trading on overseas markets, and the country also plans to release some of its stockpiles to boost supply and dampen prices. SponsoredThe government is worried that if the recent rises in metals prices continue unchecked, they will eventually be passed on to consumers, threatening the post-pandemic recovery of the world’s second-largest economy. China’s latest intervention sent copper prices down to their lowest in nearly two months, while aluminium and iron ore prices also came under pressure. Glencore, the commodities giant, fell 9p, or 2.8 per cent, to 312p; Anglo American, the De Beers owner,

Source: The Times June 16, 2021 11:02 UTC