Metal Investments

World Economic Meltdown

06. Oct. 2008

Monday, 10:05pm GMT



  • Shanghai aluminium is at its lowest in five years. Demand worries and global economic slowdown are weighing on most industrial raw materials.


  • Oil fell $2.50 to around $91.40 a barrel, dragging down prices of other commodities.

  • LME 3M copper price is down to $5592 per tonne. The price of copper is in a free fall. Friday was the second largest weekly fall of 11 per cent.


  • Gold is down at $ 830.90.


  • The FTSE is at 4723, 256 point down this Monday morning as banking stocks are hammered again.


  • TRADING PREFERENCE

    COPPER

    Support $5430, Resistance $6130

    Recommend.: Sell

    ALUMINUM

    Support $2260, Resistance $2430

    Recommend.: Buy

    Legal disclaimer and risk disclosure:

    The information in this report is provided for informational purposes only.