"Commodity markets were hit by the announcement of the list of Chinese goods that will be targeted by US$200 billion of new tariffs from the Trump Administration if an agreement is not forged by 30 August," ANZ Research said.
Lead was the worst-hit, falling by 5.3% to a 13-month low of US$2180 per tonne., while zinc also hit its lowest level since June 2017.
Copper slumped by a further 3% to $6130/t, a one-year low.
Nickel and tin were down by around 2% each.
Recently battered, but thinly traded cobalt was the only winner, rising by $500 back over $70,000/t.
As Bloomberg quite rightly pointed out, it was Trump's election in late 2016 that triggered the rally in metals with the promise of major infrastructure spending (that hasn't eventuated) an...