Base metals fall
On January 12, 2016, all base metals—except lead—in the London Metal Exchange (or LME) fell to lower price levels. Tin was the biggest loser of base metals on Tuesday with a fall of 1.5%.
Copper trading at 6.5-year low
On Tuesday, LME 3M Copper fell for the fifth consecutive day and ended the day with a loss. On January 12, 2015, copper fell 0.8% and closed the day at $4,352 per metric ton. This is the lowest day close for it since April 2009, making this a 6.5-year low. The copper in LME is in a complete downtrend since the beginning of 2016, falling 7.5%.
In COMEX, copper fell 0.68% on Tuesday. LME 3M Aluminum fell for the second consecutive trading day. On January 12, LME 3M Aluminum fell 0.68% and ended the day at $1,450 per metric ton. This is the lowest day close for it since the end of November 2015, a six-week low. Since the beginning of this year, aluminum fell 3.78%.
Zinc and nickel trading at multiyear lows
LME 3M Zinc fell 0.95% on Thursday and ended the day at $1,468 per metric ton. This is the lowest day close for zinc since July 2009, a 6.5-year low. Since the beginning of 2015, zinc fell 8.8%. LME 3M Nickel fell 0.36% on January 12 and closed the day at $8,240 per metric ton. This is the lowest day close for nickel since June 2003, a 12.5-year low.
After falling for seven consecutive trading sessions, LME 3M Lead recovered on Tuesday. Also, LME 3M Lead rose 0.37% and ended the day at $1,607 per metric ton.
The SPDR S&P Metals & Mining ETF (XME) fell 2.2% on January 12. The base metal companies Freeport-McMoRan (FCX), Alcoa (AA), Glencore (GLNCY), and BHP Billiton (BHP) fell 4.6%, 9%, 3.3%, and 3.5%, respectively.