ANFGF - Copper drops on fears of renewed China lockdowns

Copper prices fell in early London trading on Thursday, as the renewal of some lockdown restrictions in China spark demand concerns, even as government data showed a faster than expected pickup in Chinese exports. Three-month copper (HG1:COM) on the London Metal Exchange -1.1% to $9,622/metric ton, according to Reuters, after rebounding ~8% since touching seven-month lows on May 12. ETFs: (NYSEARCA:COPX), (CPER), (JJC), (JJCTF) Potentially relevant stock tickers include (NYSE:FCX), (SCCO), (HBM), (TECK), (RIO), (BHP), (VALE), (OTC:ANFGF) LME base metals including aluminum, nickel, zinc, lead and tin also trade lower. China has been cautiously emerging from strict COVID curbs, but Shanghai will lock down a district on Saturday for mass testing. "The latest round of restrictions are targeted, they're not as widespread as previously, but when people see the headlines, the initial reaction would be to sell the rallies we had recently," Xiao Fu, head of commodity market strategy at

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Copper drops on fears of renewed China lockdowns