KONTAN.CO.ID - LONDON. Copper prices fell below $9,000 a tonne on Thursday for the first time since October and other industrial metals tumbled as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a 1-1/2-year low. {MKTS/GLOB] The dollar, meanwhile, reached a new 20-year high against a basket of major rivals, making dollar-priced metals costlier for buyers with other currencies.
Copper Tumbles to 7-Month Low as Slowdown Fears Rock Markets
KONTAN.CO.ID - LONDON. Copper prices fell below $9,000 a tonne on Thursday for the first time since October and other industrial metals tumbled as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a 1-1/2-year low. {MKTS/GLOB] The dollar, meanwhile, reached a new 20-year high against a basket of major rivals, making dollar-priced metals costlier for buyers with other currencies.