Here we go again.
Anglo American’s shares have hit yet another record low today as continued jitters over the strength of the Chinese economy hit commodities and base metals, pushing the miners to the bottom of the FTSE 100. Again.
Anglo’s shares, which have slumped 80 per cent over the past 12 months, are down 1.7 per cent on the day at publication time to 225.35p as economic data released over the weekend in China exacerbates anxieties over whether the slowdown in the world’s second biggest economy could be steeper than initially feared. Producer prices in China fell 5.9 per cent year on year in December and were weaker than forecast.
Oil is once again under pressure, with Brent crude down 2.9 per cent to $32.6 a barrel while copper is also off 1.9 per cent to $4,392 a tonne.
Anglo is in good company, however. At publication time, Antofagasta, the Chile-focused miner is 1.5 per cent lower at £13.56 while BHP Billiton‘s London-listed shares are off 1.4 per cent to 643p.
Get alerts on Front page when a new story is published