Copper price edges down to two-week low amid demand uncertainty
The metal headed for a third daily decline, with copper miners also under pressure as a risk-off mood took hold in broader equity markets.
Minmetals Resources Ltd , a unit of China state-run China Minmetals Corp, said it would net $150.4 million from the sale of its entire stake in Equinox Minerals Ltd after it withdrew its its bid for the Africa-focused copper miner.
In a filing to the Hong Kong bourse late on Thursday, Minmetals said it had disposed of all its 37.27 million shares in Equinox on May 25 for about $310.5 million under an offer by Barrick Gold Corp .