Industrial metals fell back on Friday as warnings about rising tensions between the world’s two largest economies overshadowed a massive economic stimulus announced by Beijing, the world’s top commodities consumer. Copper trading in New York fell by 3.6% to $2.37 a pound ($5,225 a tonne) in lunchtime trade, halting a rally that saw the bellwether metal gain nearly 20% from lows hit in mid-March. Covid-19 dealt a serious blow to the Trump administration’s January trade deal, which included promises by China of hundreds of billions of dollars of US imports of goods and commodities, particularly oil and gas. (full story)