International live Metals News and Pricing

Aluminium prices hit their lowest in two months on Tuesday, while copper also slid after poor industrial data from China, the world's biggest metals consumer, and a further fall in oil prices. Activity in China's factory sector contracted in December for the first time in seven months, the latest in a string of weak economic indicators. 

Broader market sentiment was soured as Brent oil futures fell below $59 per barrel for the first time since May 2009, while the rouble plunged more than 10 percent for a second day and recorded its biggest fall since the Russian financial crisis in 1998.

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COPPER

Copper slid on Wednesday, extending its deepest monthly drop in almost a year in April, due to concerns over growth in top metal consumer China and in the United States after data suggested the world’s two biggest economies remain fragile.

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U.S.CRUDE

U.S. crude futures dropped for a third session running on Thursday, hurt by weak economic data from top oil consumers China and the United States although the Federal Reserve’s commitment to sustain monetary stimulus kept losses in check.

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U.S.CRUDE

U.S. crude futures fell 43 cents to $86.25 a barrel, after earlier shedding more than $1 to hit a low of $85.61.

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BRENT CRUDE

Brent crude futures slipped below $97 a barrel on Thursday for the first time since July, as worries about global oil demand persisted amid rising U.S. fuel supplies and a recent slew of weaker-than-expected economic data.

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COMMODITY MARKET OUTLOOK 22-02-2013

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