Glencore share price falls as FTSE miners feel the heat from commodities selloff

Jessica Morris
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Shares in Glencore closed 6.9 per cent lower (Source: Getty)

London-listed miners felt the heat today after the outlook for the Chinese economy darkened amid ongoing equity market turmoil.

Earlier in the day copper prices fell 5.9 per cent to a six-year low of $2.389 a pound on concern about economic growth in China, the world's top metals consumer.

It comes a day after Chinese brokerages and fund managers promises to buy more stocks as part of a series of measures to prop up the country's struggling equities market.

Other commodities were hit including nickel which was down 10 per cent, as well as aluminum which touched a six-year low, and zinc which slumped to its lowest level since December 2013.

Read more: China freezes IPOs as stock markets nose-dive

The poor performance of copper weighed on London-listed miners such as Glencore whose shares closed down 17 points, or 6.9 per cent, to 230p per share.

Additionally Anglo American ended the day 5.76 per cent lower, while Rio Tinto shares slipped 3.3 per cent, and BHP Billiton closed down 2.8 per cent.

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