Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Copper Is Getting Smacked

Mamta BadkarMar 19, 2014, 20:01 IST

Copper is down 2.2% to $2.8880 per pound.

This comes after news that Chinese property developer Zhejiang Xingrun Real Estate has collapsed. China's property sector accounts for about 40% of copper demand.

Copper prices have been falling recently.

Concerns about slowing Chinese growth and domestic bond defaults have weighed on copper. Coming on the back of this, copper-backed loans in China are also expected to unwind. Some 60-80% of China's copper imports have been used as collateral.

Here's a look at today's sell-off:

Fin VIz