Metal prices take a tumble on debt crisis concerns
September 27, 2011
Metal prices have followed the downward trend in global share prices in recent weeks as fears relating to the potential impact that Europe’s debt crisis will have on dampening demand for raw materials.
On the London Metal Exchange (LME) copper plummeted below $7,000 tonne to $6,852 tonne at the beginning of this week from over $10,000 tonne earlier in the summer, whilst nickel prices have fallen to $17, 150 tonne from over $29,000 tonne just 6 months ago, and tin to $18,650 from over $32,500 earler this year.
Tungsten metal and tungsten carbide powder prices have held steady over recent months but cobalt metal has also slumped falling from $38,500 tonne in April 2011 to $33,000 tonne this week.
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