Copper prices plummeted on Tuesday, driven by anxieties over the strength of China’s economic expansion. The Asian nation’s growth is crucial for the copper market, as it is a leading consumer of the industrial metal.

The price of copper for delivery in three months on the London Metal Exchange fell to $7,450 per tonne, a decrease of 2.1%. On the COMEX division of the New York Mercantile Exchange, the most actively traded July contract was down 2.3% at $3.38 per pound.

Analysts indicated that the market’s sentiment is closely tied to economic data releases from China. Weaker-than-expected figures could further dampen demand forecasts and exert additional downward pressure on prices.

Market participants are awaiting further signals regarding the direction of the Chinese economy and its potential impact on global copper demand.