Zinc Prices Down 30 Percent from 2014 Due to Falling Oil Prices
Copper prices have rebounded, taking advantage of the declining dollar but gains are limited as the greenback rebounded.
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According to FX Empire Analyst Barry Norman, the prices of zinc used for metal plating are down 30 percent from November 2014 due to falling crude oil prices.
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"China's economic slowdown has accelerated a global slide in resource and materials prices as declining demand shrinks the nation's imports and leaves other markets swamped with Chinese products," Norman says. "The Thomson Reuters CRB Index has plummeted in November, reaching a 13-year low of 183.71 Tuesday. Copper prices have fallen 5 percent so far this week to their lowest in six and a half years, while steel product prices are down 35 percent this year."
To read more about his analysis, please visit: fxempire.com/news/commodities-news/deflation-fears-weigh-on-metal-prices-311826
