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Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek".
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Base metals booked the worst quarterly slump since the 2008 global financial crisis as China’s economy recovered only gradually and fears of a world recession intensified.
The London Metal Exchange Index tumbled 25% since the end of March, although the decline has been magnified due to prices spiking that month following Russia’s invasion of Ukraine. Tin has been the worst performer, plummeting 38%, while aluminum dropped by almost a third and copper by 20%. It was the first quarterly decline for the entire index since the start of the pandemic.