Steel-related metals including nickel and zinc started losing its value on Monday due to weaker demand on behalf of Chinese producers, Reuters reports.

Other base metals fell ahead of trade talks between China and US that will take place later this week.

According to analytics, the market started taking seriously uncertainty about outcome of the meeting between the leaders of two largest economies in the world.

Zinc futures in Shanghai fell to the lowest level in two months 20330 yuan per ton, while they lost 0,46% to $2507,5 per ton in London. Price of nickel declined by 1% in London and by 0,3% in Shanghai.

Chinese future of iron ore lost about 6%, while steel prices dropped to the lowest level in five months.

LME copper decreased by 0,4% to $6182 per ton. US dollar rose versus major currencies, which makes import of dollar-denominated commodities more expensive for countries using other currencies.