Copper costs have crashed in current days amid rising panic over the affect of the coronavirus, and the metallic's fame as a barometer for the worldwide financial system means analysts want to see if it has additional to fall.

On Thursday, copper costs hit their lowest stage since January 2016, with three-month copper futures on the London Steel Alternate (LME) touching $4,371 per metric ton. That is down from a excessive of round over $6,340 in mid-January. By 6.30 a.m. London time, copper costs had been buying and selling round $4,548.

It comes amid the coronavirus pandemic, with over 215,000 confirmed instances around the globe, in accordance with Johns Hopkins College, and over 8,800 recorded deaths. The quick transmission of the illness has seen each inventory and commodity markets tank as companies shut down, first in China and now within the U.S. and Europe, and individuals are instructed to remain indoors.

Right here, we check out two charts that point out copper might have additional to fall.

The copper/gold ratio sees copper...