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
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
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