Mining News

Metals set for worst quarter since 2008 on global downturn angst

Base metals headed for the worst quarterly slump since the global financial crisis in 2008 as China’s economy recovered only gradually and fears of a world recession intensified.

The London Metal Exchange Index has tumbled 23% since the end of March, although the decline has been magnified due to prices spiking in March following Russia’s invasion of Ukraine. Tin has been the worst performer, plummeting 38%, while aluminum is down by around a third and copper has fallen by about a fifth.

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