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Industrial metal prices melt as global recession fears flare up

Industrial metal prices melt as global recession fears flare up

A brief summer rally in the prices of industrial metals has sharply reversed as the worsening energy crisis in Europe and signs of a slowdown in manufacturing behemoth China spook traders.

The S&P GSCI index of industrial metals has dropped more than 9 per cent since mid-August, leaving it back near its lows in July when fears of a global recession were swirling across trading desks.

The gauge, which tracks the spot price of metals…


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