W.T.N. - World Trade Networks
News

Archive

The crisis involving the euro is weighing heavily on the raw material market.  Aluminium fell, at the start trade by 2,2 % and gold by 0,5 %.  Bloomberg relates that the Standard & Poor’s GSCI index, which comprises of 24 raw materials, fell for a consecutive third day, after already having given up 3,7 percent points in the first two days.  Investors are concerned that the euro crisis could choke the economy of the EU States.  Europe consumes a third of the worldwide produced gas, a quarter of the petroleum and a fifth of the copper production.

 

The copper price has crashed dramatically in the past few days, having fallen under the steady 200-day price average, as has not been seen within the last 16 months.  However, according to readings from Bloomberg it is the opinion of Barclays Capital Analyst, Philip Robert that the booming tendency of this metal need not however come to an end.  Yesterday the price of copper fell 6,6 %  to 6,470 USD  and so slid under the 200-day mark.  We also believe that this need not mean an end to the upward tendency for the copper price.  Certainly it is likely that the copper price with rise daily above its latest low of 6,280 USD on the 5 Feb. 

 

21 May 2010