Copper prices have been falling for two days in London and lost more than 2% already amid new escalation of trade conflict between Washington and Beijing, which may influence industrial metals demand in China, Reuters reports.

Asian shares suffered as well, since the latest exchange of tariffs between the US and China may hit global growth.

Copper price at London Metal Exchange lost 2,2% to $6214 per ton, while contracts at Shanghai Futures Exchange are down 0,9% to 50060 yuan ($7295,25) per ton.

Rising trade tensions stopped the growth observed in basic metals sector last week. On Friday copper price reached the highest level since July 10 -  $6382,50 per ton.

US tariffs on $200 billion of Chinese goods and China’s tariffs on $60 billion of American goods came into effect on Monday.

China consumes about half of all copper in the world. This year demand is estimated at 24 million ton.

Zinc price at LME fell by 3,2% to $2483 per ton.