Base Metals Battered As “Unholy Combination Of Factors” Crushes Copper

Tuesday, August 18, 2015
By Paul Martin

by Tyler Durden

Copper (and aluminum) tumbled overnight as base metals were battered during an intense Asia session and losses are extending in European trading. As one trader noted “sentiment toward China is weak, the dollar is somewhat strong and there is an unholy combination of many factors keeping prices under pressure,” and copper traded $4,999/mt on the LME – its first sub-$5000 print since 2009. Aluminum, nickel and zinc all tumbled also.

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