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China's economy is reducing the cost of basic metals

The cost of nickel, copper, aluminum and other commodities fell again. New lows form on fears of faltering Chinese economy. Experts are seriously worried that the market simply drown in the metal supply. Nickel prices fell by 10%. Aluminum and copper show 6letnego drop to a minimum. Lead and zinc fell to lows 5letnih. As for gold, the most hard currency in any scenario, it is scrambled.

Now there are few who believe that China's economy, being the 2nd largest, will reach the goal. Namely — to 7.5% growth rate. According to the latest statistics from China's manufacturing sector is slowing down. And it is the most important consumer of steel and aluminum. The last devaluation of the yuan to bolster suspicions about the deplorable situation of the Chinese economy. The Shanghai index has fallen, which has negatively affected the global markets. This was preceded by 5letnee slowing economic development of China. And after all, China is a leader among consumers of raw materials.

For China, the overproduction in the steel industry familiar phenomenon. And China is routinely fights with him. In 2014, export of steel has been increased twice. This year, the desire to build up exports increases. And China has no plans to remove certain operations on the development of a low value-added products. Accordingly, the steel market is watching a glut in conjunction with a low cost of metal.

Prices for metallurgical coal and iron ore rushed down with incredible speed. For 4 years the minerals used to produce steel, have lost 70% of its value. And this destructive trend spread to other products. Base metals are used in all sectors, be it construction or electronics. And the decline in their value — an important economic indicator. For the mining sector surplus is virtually disease. In Australia and Canada, some companies reduce production and conserve initiated projects. However, manufacturers have invested considerable sums for the extension to the needs of China, slow down the pace reluctantly.

Saying that the production of steel in China will inevitably decreases prematurely. Of course, the July figures showed decline. But influencing factors are here to move forward repair time. According to CISA data in August, production output increased compared to July.

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