China’s Economic Stumbles Weigh On Metal Prices

After powering to new highs in the Spring, metal prices continue to slide. Iron ore, aluminum, and copper have all fallen to varying degrees, and those merely represent the largest volumes. Meanwhile, the bulls continue to retreat while demand fears trump supply fears. Prices surged earlier this year based on several predictions. The first was that rapidly rising energy costs would restrain supply. The second being that the loss of Russian supply would drive prices up. However, long positions continue to cut as the market factors in concerns that…