Rus News Journal

The prices of the world markets of metals

Industrialists have once again lost to speculators

Sharp falling of the prices for the basic metals, an event past week, became no more than the natural ending of active speculation for the fall of the copper begun by investment funds in New York. The prices for copper have started to fall still two weeks ago, despite appreciable increase in demand. For the sake of justice, it is necessary to notice that players daily tried to change a situation to increase to own advantage, but practically never could become successful. Competition results between investment funds and industrial consumers of metal have been predetermined in advance - as experts more than once marked, real control over pricing in the market is carried out by investment funds. The auctions on Friday when the prices for three-monthly contracts could rise for a day on $14 to $2900 for ton became a unique exception, however event it has not been noticed against simultaneous falling of three-monthly nickel on $400 for ton, and, according to experts, players on fall most likely have allowed the opponents hardly to strengthen the prices for copper, realising what begin new speculation for the fall they can at any moment. The next wave of dump of copper contracts should begin on new week, and this forecast already proves to be true: at the morning auctions in London three-monthly contracts on copper from the beginning of year have fallen for the first time below a mark in $2800 for ton.
fears of experts that impetuous falling of the prices for copper can make negative impact on all market of metals, have excellent proved to be true. Besides, there were also signs of that, having begun to enjoy, wishing to lower the price for other metals now not begin to follow blindly dealers copper, and will do the part absolutely independently. As a result by the end of the begun week of the price for nonferrous metals can fall even more.

PHILLIP - KRIGSHTAL