Industrial metals, including copper, started this week with significant losses, Bloomberg reports. Investors worry that trade conflict between the US and China may get worse, as US President is going to apply new tariffs to China, which may weaken demand on behalf of the largest metal consumer in the world.

Nickel showed the biggest decline. LME price fell by 3,2% to $12250 per ton. Copper lost 1,4% of its value and is traded for $5892,50 per ton. Aluminum declined by 1,2%.

According to the latest data from Wall Street Journal, China may refuse to hold new round of talks, if the US imposes new tariffs.

Last week Goldman Sachs predicted another round of losses for metals.

Aluminum price is also falling after US Treasury softened impact of sanctions on Russian United Co. Rusal, allowing consumers to negotiate some new contracts with the leading producer of metal outside of China.