Base Metals and Minerals

Equity markets closed higher at the end of what has been one of their best weeks ever. The same cannot be said for metals.

The US third quarter GDP was not as bad as expected allowing the Dow to gain 190 points.

When the Dow rallied 936 points in October 13 it fell 76 points on October 14. After an 889 point rally on Tuesday the Dow fell 74 points last night. The Fed delivered a 50 point cut as expected.

For the second time this month Wall Street has provided a spectacular rally, with the Dow rising almost 900 points in the session.

The Dow fell 200 points – all in the last ten minutes – as buyers remained tentative. Base metals, however, put in some extraordinary reversals.

The Dow closed down 300 points on Friday, once again rallying 200 points from its lows. Wall Street has nevertheless been left wondering what might have been.

The Dow closed up 172 points in a late buying rush after in yet another volatile session.

As conditions continue to weaken brokers are continuing to reduce their commodity price forecasts.

The Dow fell 500 points last night as withdrawals from emerging markets become the latest snowball.

Oz Minerals booked a solid September quarter, but there’s just too much risk thanks to lower metal prices.