---
title: "Copper steadies after plumbing four-month low during global rout"
description: "Industrial metals found firmer footing on Tuesday, the day after commodities were swept up in a tumultuous global selloff of risk assets."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2024-08-06-copper-steadies-after-plumbing-four-month-low-during-global-rout/"
published: "2024-08-06T05:52:48"
updated: "2024-08-06T05:52:49"
lang: "en-ZA"
word_count: 161
---

# Copper steadies after plumbing four-month low during global rout

> Industrial metals found firmer footing on Tuesday, the day after commodities were swept up in a tumultuous global selloff of risk assets.

By Bloomberg · Published 6 August 2024, 07:52 SAST · Updated 6 August 2024, 07:52 SAST

## Content

Copper, aluminium and zinc all steadied after a frenzied opening day of the week that wiped out billions across global markets. Investors are now tracking whether Monday’s drama — ending with copper at its lowest since March — points to deeper troubles ahead.

Read More: [Commodities Face Contagion as Global Market Meltdown Deepens](https://www.bloomberg.com/news/articles/2024-08-05/commodities-face-contagion-as-global-market-meltdown-deepens)

The main headwind for metals over recent months has been China, where subdued manufacturing and a grim housing market have hammered confidence. There now appear to be growing concerns about a hard landing for the US economy.

Broader financial markets were calmer in early trading on Tuesday, with Japan’s two main share gauges up sharply and US stock [futures](https://www.bloomberg.com/news/articles/2024-08-06/us-stock-futures-bounce-back-after-three-day-global-selloff) bouncing back after three days of losses.

Copper rose as much as 1.1% before slipping back to trade little changed at $8,889.50 a ton by 10:28 a.m. Shanghai time. Aluminium was flat and zinc dipped 0.1%.

Iron ore futures, which largely shrugged off Monday’s selloff, fell 0.5% in Singapore.