SHANGHAI—Chinese commodities markets slumped on the first trading day after an extended Lunar New Year break, with several futures contracts hitting downside limits on fears the spread of a new virus will hit demand in the world’s top commodities consumer.
The most-active copper contract on the Shanghai Futures Exchange, iron ore on the Dalian Commodity Exchange and crude oil on the International Energy Exchange all fell by the maximum daily limit at the open, with copper down 7 percent and crude oil and iron ore down 8 percent.
