The FTSE 100 got whacked by metal

The FTSE 100 just closed in London down 14.34 points, or 0.22% at 6535.96.

It’s not a big fall — it’s August after all — but the reason behind the fall is metal. Concerns about Chinese demand sent copper prices tanking to a 6 year low, while other metals also dived.

That hit miners — Chilean copper giant Antofagasta was the biggest faller down 2%; Anglo American fell by 1.7%; Fresnillo was 1.7% lower; and BHP Billiton slipped 1.8%.

Surprisingly, there was one miner at the other end of the share index. Glencore was the day’s biggest riser, up 3.5%, rebounding from all-time lows recorded yesterday ahead of half-year results tomorrow.

NOW WATCH: Here are some incredible toys hedge fund boss Steve Cohen has bought with his billions

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at