November 25, 2015

Metals: Bleak gets bleaker

Falling metal prices paused for breath in October, raising hopes they might have hit the proverbial bottom. Those hopes were dashed as prices continued to fall and have reached multi-year lows. Data from the London Metal Exchange (LME) shows the price of copper has declined by 28.6% in 2015 so far, while that of zinc has fallen by 30.2% and aluminium by 21%. Chinese flat steel prices are down by 39.6%. November alone has seen declines ranging from 2.5% for aluminium to 12.2% for copper.

The resumption of the fall, especially if it continues in this vein, spells more trouble ahead for metal companies.

Read more at http://www.livemint.com/Money/3iEWWr7dijFxCHOfAZEESJ/Metals-Bleak-gets-bleaker.html

No comments:

Post a Comment