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The FTSE 100 got whacked by metal

Oscar Williams-Grut   

The FTSE 100 got whacked by metal
Finance2 min read

Molten copper is cast into copper anodes in the foundry of Aurubis AG on on February 7, 2014 in Luenen, Germany. Aurubis is Germany's biggest recycler of scrap electronics and extracts metals including copper and gold from chips, hard drives, mobile phones, computers and other electronics devices. Recycling of electronic scrap is gaining in importance as worldwide supplies of metals, especially rare metals such as platinum, silver, tantalum and gold, become increasingly scarce. (Photo by )

Sascha Schuermann/Getty Images

Copper is at a 6 year low.

The FTSE 100 just closed in London down 14.34 points, or 0.22% at 6535.96.

It's not a big fall - it's August after all - but the reason behind the fall is metal. Concerns about Chinese demand sent copper prices tanking to a 6 year low, while other metals also dived.

That hit miners - Chilean copper giant Antofagasta was the biggest faller down 2%; Anglo American fell by 1.7%; Fresnillo was 1.7% lower; and BHP Billiton slipped 1.8%.

Another plunge for Chinese stock markets overnight didn't help the mood either.

Surprisingly, there was one miner at the other end of the share index. Glencore was the day's biggest riser, up 3.5%, rebounding from all-time lows recorded yesterday ahead of half-year results tomorrow.

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