Copper price has been falling two trading sessions already, as intensifying conflict between the US and China raises concerns about demand for industrial metals on behalf of the largest consumer, Reuters reports.

LME copper price fell today by 0,1% to $5906 per ton. Price of metal at Shanghai Futures Exchange grew by 0,4% to 47830 yuan ($6966,72) per ton.

China announced that it is ready to take any countermeasures in regards to any steps from the US, after American President informed that he is ready to impose duties on almost all Chinese goods. It shall be noted that trade surplus of China with the US hit another record in August. This can motivate the US take more serious steps.

According to evaluation of experts from Wood Mackenzie, tariffs may influence copper demand as many products from this metal are on the list.

China today is the largest copper consumer in the world. It consumes about half of world demand that was estimated as 24 million tons this year.

Import of copper into China fell in August by 6,7% to 420000 tons.