Markets chaos sends metal prices reeling

Commodities and the resource boom to save Australia?

The prices of aluminium, copper and nickel slumped as investors feared the ongoing global financial crisis would sap demand for the base metals, analysts say.

On the London Metal Exchange, copper for delivery in three months fell as low as $US6,229 ($A7,828) per tonne – the lowest level since March 2007.

Copper has shed 43 per cent in value since striking a record high of $US8,940 ($A11,236) per tonne three months ago.

» Markets chaos sends metal prices reeling – The Age, 1st October 2008.