Metal prices slide on strong US$ and China woes

London

THE prices of metals slumped to multi-year low points last week owing mainly to a strengthening US dollar and persistent concerns over weaker Chinese demand, analysts said.

In a report on Tuesday, US investment bank Goldman Sachs noted that metals prices had fallen by between 12 and 17 per cent since late October.

"Over this period, China's economic data for October has disappointed, the US dollar has strengthened ... and the broader commodity complex has moved lower," it added.

On Thursday, prices were near 6.5-year lows for copper at US$4,573 a tonne, aluminium at US$1,453 a tonne and for zinc at US$1…