Why is the price of non-ferrous metals plummeting now?
International nonferrous metal futures prices fell sharply. The global financial crisis continues to spread. Despite the unprecedented frequency of rescue measures, investors' confidence has not really recovered. The commodity market continued to sell on a large scale, and the price of non-ferrous metals fell sharply. Based on the closing price on September 30, LME copper has dropped from $6,380/ton to $4,825/ton in March, a decrease of 24.3%. LME Aluminum fell10.5% in March; LME zinc decreased by 21.6% in March; LME lead fell 16.2% in March, and all varieties fell sharply to varying degrees, and the market sentiment was extremely depressed. The domestic market is depressed. However, the domestic commodity market is affected by the sharp drop in international market prices and continues to fall. As of the end of June, 65438+1October, 65438+June, Shanghai Copper, Shanghai Zinc fell for six consecutive trading days. Although the intraday trading limit was opened, it lasted for a short time and there was an obvious agreement to close the position, so the market's recognition of the price rebound was not high. Moreover, the deterioration of macro-economy will also have a certain impact on the weakening of future consumption of non-ferrous metals, and it is expected that the market will still be dominated by decline in a short time. China stock market under the financial crisis. Due to economic data showing that the US economy may fall into recession or has already fallen into recession, US stocks fell sharply on Wednesday (10, 15), and the Dow Jones Industrial Average fell 734.75 points, or 7.89%, to 8,576.24 points. The Standard & Poor's 500 Index fell by 90.23 points, or 9.04%. The Nasdaq Composite Index (quoted in gub) fell by 150.68 points, or 8.47%. China Shanghai Composite Index (stock market) continued to fall, and the integer level of 2000 points was once again broken. We believe that from the linkage trend at home and abroad in the past two months, the domestic market is obviously weaker than that of foreign countries, the negative reaction of the domestic market to the financial crisis is too strong, and the market is too pessimistic, which leads to the continuous decline of the index. At present, China's favorable policies for the stock market have obviously not given the market a decisive role, and the existence of panic will make it difficult to start the painful market.