Experts agree that a global recession is now a foregone conclusion. Though they continue to argue about the potential extent of the damage and which countries may evade repercussions, few see any way to avoid a downturn. As usual, one of the first markets to react to the growing concern is industrial metals. Back on September 6, the Financial Times was sounding the alarm on industrial metals. At the time, the S&P GSCI had just witnessed a crushing descent from March highs. In fact, the index had largely risen since the beginning of the pandemic, when prices averaged in the mid $260s per share. However, this past ... (full story)