Made in Italy
As anticipated by last month’s forecasts, non-ferrous metal prices have begun to slow down their upward run. In fact, in November there was a general decline in prices, which determines a downward trend destined to accentuate.
In particular, aluminum and copper fell below their multi-year highs: the silver metal marked a percentage change of -7.5% ($ 2698 / ton), hitting the November low of $ 2,490, while, while, the red metal saw a contraction of -1.9% compared to October (from 10,050 dollars to 9,850 dollars a ton).
Specifically, the rapid collapse of the cost of coal in China has significantly impacted aluminum, and consequently the base metals that need a lot of energy for production: the government has strengthened measures to contain prices and, at the same time, it has tightened the rules of the exchanges on the most relevant products.
Zinc prices have also started to decline: in mid-November, values stood at $ 3,429.00 / ton with a decrease of 2.3% compared to last month.
Lastly, as regards nickel, despite some slight drops, there is still an upward trend: prices had dropped to $ 19,250 per ton on November 5, but then climbed back up to touch the maximum for the period at $ 21,125. / Ton on November 24th.
