US Policy Concerns Spark Global Copper Price Drop

The mining sector on the ASX dropped by 4.2% in morning trading due to an overnight slump in global copper prices.

Major miners BHP and Rio Tinto were heavily impacted, with BHP falling 4.3% and Rio Tinto losing 3.4% during early market moves.

The drop in metal prices was driven by policy concerns in the United States over elevated domestic manufacturing costs.