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Copper tumbles to 7-month low as slowdown fears rock markets

From financialpost.com

Copper prices fell below $9,000 a tonne on Thursday for the first time since October and other industrial metals tumbled as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a 1-1/2-year low. {MKTS/GLOB] The dollar, meanwhile, reached a new 20-year high against a basket of major rivals, making dollar-priced metals costlier for buyers with other currencies. Benchmark copper on the London Metal Exchange (LME) was down 3.6% at $9,000 a tonne in official trading after falling as low as ... (full story)

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  • Category: Fundamental Analysis