Barclays: Copper selloff 'overblown'

Copper was most definitely on the sales rack last week after fears of a global trade war saw the red metal lose 3.1% of its value.

Staff reporter

Sales season: The copper selloff was overblown, according to Barclays Capital

While the US imposing tariffs on approximately US$60 billion of Chinese imports and China reciprocating with plans to enact its own duties on approximately $3 billion worth of US-origin goods could have some impact on the copper market, the investor reaction has been overblown, according to Dane Davis of Barclays Capital.LME three-month copper dropped to below $6,500 per tonne on the back of this news on March 26, the lowest price for three-and-a-half months.