Copper prices hit two-year low as signs of global slowdown stack up

Copper skidded to its lowest since mid-2017 as investors faced fresh evidence of a global slowdown and fading prospects for a de-escalation in the US-China trade war.

Long known as a canary in the coal mine for the economy, copper has slumped 16 per cent since mid-April on the back of a sharp downturn in factory output and warnings that major economies are heading into recession. Prices fell 1.8 per cent to $5,520 a tonne on the London Metal Exchange on Tuesday.

A rallying dollar is also piling pressure on industrial metals, with buyers using other currencies seeing