Copper Crash Deepens as Recession Fears Dominate Metals Trading

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Copper Crash Deepens as Recession Fears Dominate Metals Trading

Bloomberg2022-07-06

US slowdown, Europe gas crisis woes taking a tollEconomic bellwether falls almost 5% after slumping on TuesdayCopper plunged below $7,500 a ton as fears of a global economic slowdown piled pressure on...

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·2022-07-07
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Bull1973
·2022-07-07
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·2022-07-06
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After a 4.2% slump on Tuesday to its lowest close in 19 months, copper fell almost 5% on Wednesday. Aluminum, zinc and tin also tumbled.</p><p><img src=\"https://static.tigerbbs.com/20b0d8581c5caa4b3c530bc817312ffb\" tg-width=\"698\" tg-height=\"392\" width=\"100%\" height=\"auto\"/>The last quarter was the worst for metals since the great financial crisis in 2008, and July has brought little relief as fears of a recession dominate markets. It’s a rapid turnaround from March, when the LMEX Index of six metals soared to an all-time high amid fears that Russia’s attack on Ukraine would fuel shortages.</p><p>Minutes from the Federal Reserve’s last meeting are due later Wednesday for more clues on the bank’s thinking about monetary tightening, ahead of another rate decision in late July. The chances of a US economic contraction are now38%, according to the latest forecasts from Bloomberg Economics.</p><p>Copper fell as much as 4.9% to $7,291.50 a ton on the London Metal Exchange, the lowest since November 2020 before trading at $7,440 a ton by 7:10 a.m local time. Aluminum dropped 1.4% and zinc was down 0.6%</p><p>The sell-off across metals is also slamming miners, withRio Tinto Ltd.shedding 7.2% in Australia and BHP Group down 5.5%.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Copper Crash Deepens as Recession Fears Dominate Metals Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCopper Crash Deepens as Recession Fears Dominate Metals Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-06 17:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-07-06/copper-crash-deepens-as-recession-fears-dominate-metals-trading><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>US slowdown, Europe gas crisis woes taking a tollEconomic bellwether falls almost 5% after slumping on TuesdayCopper plunged below $7,500 a ton as fears of a global economic slowdown piled pressure on...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-07-06/copper-crash-deepens-as-recession-fears-dominate-metals-trading\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JJT":"锡ETN-iPath"},"source_url":"https://www.bloomberg.com/news/articles/2022-07-06/copper-crash-deepens-as-recession-fears-dominate-metals-trading","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143122296","content_text":"US slowdown, Europe gas crisis woes taking a tollEconomic bellwether falls almost 5% after slumping on TuesdayCopper plunged below $7,500 a ton as fears of a global economic slowdown piled pressure on industrial metals and deepened their retreat from record highs just months ago.Investors are fretting over a range of threats to demand, from Europe’s gas crisis to a US slowdown. After a 4.2% slump on Tuesday to its lowest close in 19 months, copper fell almost 5% on Wednesday. Aluminum, zinc and tin also tumbled.The last quarter was the worst for metals since the great financial crisis in 2008, and July has brought little relief as fears of a recession dominate markets. It’s a rapid turnaround from March, when the LMEX Index of six metals soared to an all-time high amid fears that Russia’s attack on Ukraine would fuel shortages.Minutes from the Federal Reserve’s last meeting are due later Wednesday for more clues on the bank’s thinking about monetary tightening, ahead of another rate decision in late July. The chances of a US economic contraction are now38%, according to the latest forecasts from Bloomberg Economics.Copper fell as much as 4.9% to $7,291.50 a ton on the London Metal Exchange, the lowest since November 2020 before trading at $7,440 a ton by 7:10 a.m local time. Aluminum dropped 1.4% and zinc was down 0.6%The sell-off across metals is also slamming miners, withRio Tinto Ltd.shedding 7.2% in Australia and BHP Group down 5.5%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":26,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}