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A critical situation in the market of non-ferrous metals

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A critical situation in the market of non-ferrous metals
November 26
09:00 2018

Obviously, the metal market is not in the best shape now. The reasons for this are trivial – investors fear that the pace of the global economy will drop significantly in the near future. Nickel, which is widely used in the production of batteries and parts for the aerospace industry, has reacted especially dramatically. The price per ton of the metal has fallen below $ 11,000. It is worth noting that the end of 2017 was the last opportunity to buy a ton of nickel for such amount of money.

On the London Stock Exchange, the price has slipped by 0.3% to the value of $ 10,958. In Shanghai, the drop has exceeded 1.5%.

Despite the problems with prices for non-ferrous metals, gold continues to grow and has every chance of closing the session with a two-week record. Bidding is weak now, because Thanksgiving Day celebrated in the States smoothly degenerated into Black Friday. Deals on gold with immediate delivery have grown to 1,228 US dollars per ounce. This is the highest price since early November. Volumes on the Comex exchange (specializing in the sale of non-ferrous metals in the North American market) are currently one third less than the common ones.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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