NEGOTIATOR’S TAKE: You should be paying significantly less for Stainless Steel and Bronze parts and components.
11.20.15 – Copper and nickel hit six- and 12½-year lows
Two of the world’s most important industrial metals, copper and nickel, fell to fresh multiyear lows, battered by a mix of weak growth, rising output and a stronger dollar.
The day’s declines made nickel the first widely traded metal to fall below the levels it traded at during the financial crisis, while copper has lost 11% of its value this month-to-date alone. Many investors see little respite for copper, nickel and other industrial metals, which are widely used in electronics, electrical products, construction and infrastructure.
China demand slows and dollar strengthens
“Ultimately, commodities are going to continue heading lower [because] there’s anticipation of China slowing down, Europe slowing down and the dollar getting stronger,” said Daniel Pavilonis, a senior market strategist at RJO Futures in Chicago. A stronger greenback makes dollar-denominated commodities such as nickel and copper more expensive for consumers in most countries, weighing on global prices.
Source: WALL STREET JOURNAL, November 2015