Copper drops for 5th straight session as US-China trade war intensifies

Copper prices fell during the first session of the week, continuing its losses for the fifth day in a row, in conjunction with the escalation of the trade war between the United States and China.

After the imposition of tariffs between the United States and China, the administration of President Donald Trump approved a ban on US companies from using Huawei technologies.

In compliance with this decision, Google announced today that some of its business and activities with Huawei will be suspended by not providing the Chinese company with specific services and features, but the US company confirmed that Huawei users will be able to access some services such as the applications store, Google Play.

Investors fear the expansion of Trump's decision, with many US technology companies considering providing similar technology or even the use of Huawei technologies.

As a result to the news, by 14:11 GMT, copper futures (July delivery) fell by 0.4% to $2.72 per pound, with a high of $2.75 and a low of $2.71.