Moscow. November 13. Global markets embraced the new wave of reduction of prices on metals and raw materials, investors fear that it may be a signal of a further slowdown of the Chinese economy, which in recent years has determined the level of demand for basic resources.
Copper prices declined on Thursday to the lowest level since 2009. On Friday in Shanghai, the contracts for the metal traded at $4816 $4823,50 on Thursday. Copper, which is a barometer of economic conditions, fell for a fifth consecutive week, according to data by Bloomberg.
Oil prices have dropped since the beginning of the week is 6%, decreasing to August marks.
The cost of December futures for Brent crude on London’s ICE Futures exchange to 8:00 Moscow time remained almost at the level of closing of Thursday – $44,12 per barrel. Futures price for WTI crude oil for December in trading on the new York Mercantile exchange (NYMEX) decreased by this time $0,16 to $41,59 per barrel.
According to the U.S. Department of energy, the oil reserves in the U.S. rose last week by 4.2 million barrels, the increase was the seventh in a row.
Bloomberg Commodity Index, which includes 22 commodities, fell to its lowest level since the financial crisis.
Analysts say that, unlike the August decline in prices, caused by oversupply in commodity markets, now the main driver is concerns about demand.