Copper declines

Beijing : London copper prices fell for a third straight session on Friday, weighed down by a report that the United States is ready to impose tariffs on $200 billion more of Chinese goods as soon as the end of next week, even as growth in China´s manufacturing sector beat expectations.

London Metal Exchange copper is on track for a 4.2 percent drop in August, after a 4.9 percent plunge in July, amid fears the trade spat will crimp demand for industrial metals. However, inventory numbers suggest demand is holding up well, ANZ commodity strategists wrote in a note.

"Despite concerns that the trade conflict will impact demand, stockpiles of base metals continue to fall," they said, noting that copper exchange stocks had fallen by 20 percent over the past month.

"This is all the more surprising considering it´s the quiet summer period in the northern hemisphere. This points to strong underlying demand," they added.