Recession warnings in the world's major economies have collateral effects on industrial metals.
Aluminum, copper, cobalt, iron, nickel… Prices have fallen sharply since the peak in early March, caused by the war in Ukraine.
Geopolitical tensions, fears over deliveries from Russia, a major producer of aluminum and nickel, had caused prices to soar.
Levels were then already historically high under the effect of the strong post-Covid recovery and logistical bottlenecks.
The ton of aluminum peaked at 3,875 dollars and that of copper, a barometer of economic activity, at 10,800 dollars on the LME in London.
Today, they are respectively at 2313 and 7545 dollars.
The S&P synthetic index of industrial metals has fallen 34% since March.
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The war in Ukraine was the high point with a phenomenon of speculation in the face of sanctions threats on Rusal's aluminum and on nickel.
Today it…
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