From crude to copper and corn, commodity prices slipped on Monday, knocked by the spread of highly infectious coronavirus variants and concerns about slowing growth in China, the world’s biggest consumer of raw materials. 

Brent, the international oil marker, fell as much as 1.7 per cent to $74.27 a barrel, while copper dropped 1.1 per cent to $9,390 a tonne — leaving it more than $1,000 below the record high reached in May.

Gold was also weaker as the dollar rose, something that makes the previous metal more expensive for holders of other currencies. It fell 0.6 per cent to $1,800 a troy ounce. Corn was trading at $6.23 a bushel, down 20 per cent from this year’s peak in May, as some market bulls retreated owing to the recent rains in the US midwest.