Shares of mining group Glencore plummeted over 30 percent on London's stock exchange Monday afternoon, after analysts warned about the impact of low commodity prices on the group.

Glencore's share price slumped by 31.18 percent at 66.91 pence around 1245 GMT, on new signs of China's economic slowing and a warning by online brokerage Investec that persistently low commodity prices meant "nearly all the equity value" of  mining groups  such as Glencore "could evaporate."