Falling oil price leads to non-ferrous metals price fall

On Jan 9th the cost of copper futures on the LME fell as a positive effect from the falling dollar was smoothed by the market’s worry about the perspectives of the economic growth in China.

The contract for copper with the supply in 3 months feel in price by the moment of termination of the official session on the LME by 0.1% to $6,095/ton. In the process of trades the metal price fell to the minimum for 4.5 years - $6,073.50’ton.

“There is still a common worry about the slowdown of China’s economy and the connected with it possible reduction of metal consumption”, the analyst for metals of Citigroup, D. Wilson, says. “Moreover, there hasn’t been any visible tendency during the trades, they didn’t run smoothly”, chief manager of the projects Sucden Financial, L. Grant says.