A number of global conditions such as China’s recent growth slowdown and the Greek debt crisis, along with falling oil and commodity prices, are impacting metal prices which are facing multi-year low levels on the London Metals Exchange (LME).
LME copper has fallen by over 20% since the beginning of 2015 to $4886 metric tonne (August 24) whilst LME nickel has fallen from around $15,000 metric tonne at the beginning of the year to $9,300 tonne (August 24). Both are important metals used in the production of structural parts and self lubricating bearings.
LME tin at $15,180 tonne and LME zinc at $1700 tonne are down 22% and 18.2% respectively compared with one year ago. Cobalt started the year declining from just under $32,000 tonne to $26,000 tonne by the end of March, but recovered to almost $34,000 tonne by July before declining again to $28,250 tonne (August 24).
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