China and copper go hand in hand; China is the world's largest consumer of the red metal, accounting for around 40 percent of global demand. Thus it comes as no surprise that China's startling trade figures released over the weekend contributed to a substantial drop in copper prices.
Official data showed China moved into a trade deficit for the first time in 11 months in February after exports fell 18.1 percent on year, raising concern over the health of the world's second largest economy.
(Read more: Copper's 'fall out of bed' underscores China woes)
The drop in copper prices reflects a bearish view on the world's second-largest economy. The key industrial commodity's performance is often used as a guide for economic growth and development.