Glencore shares closed down 10.6 per cent to 106.35p this afternoon, as commodity prices careered downwards amid concerns over China's slowing economy.
Earlier today, the commodities trader and miner fell below the 100p per share mark for the first time since it listed, sliding 14 per cent to 99.9p per share.
Commodities such as copper and coal, have suffered on the back of the economic slowdown in China, the world's largest consumer of raw materials. Copper prices fell to a two-week low today.
"Glencore’s recent attempts to prop up its share price have been rendered rather fruitless," Brenda Kelly, head analyst at London Capital Group, said.
"Until China demand and emerging market currencies find a floor, it will remain challenging to put an absolute floor on commodity prices," the note from analysts at Credit Suisse said.
However George Osborne is still optimistic about the opportunities that China offers for London's growth, writing in City A.M. today that "we want to build strong links with every part of China and recent volatility should not and will not put us off."