Global economic recession concerns lead to decrease in metals trading
Time:Thu, 20 Oct 2022 09:34:54 +0800
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Global industrial metals trading volumes have slumped, and economic growth is facing the Fed's aggressive interest rate hike and the Russian-Ukrainian conflict, which caused major consumers, such as China, to turn to the sidelines.
The Fed's aggressive interest rate hike has exacerbated recession fears, while the wildly fluctuating metal prices in the first quarter after the Russian-Ukrainian war have left the market with little confidence in price trends.
Copper trading on global commodity exchanges has fallen by one-third so far this year, with most other industrial metals also falling and nickel taking the biggest hit. The weakening demand for industrial metals is an ominous sign for the global economy.
