Base metals prices began falling at the beginning of the week on the back of a continued slowdown in the US sub-prime mortgage market and a diversion of funds from industrial metals to energy, which emerged as a hot commodity because of an unabated decline in US inventories. | |
| Nickel and lead witnessed one of the steepest weekly declines in the past year of 8.29 to 9.41 per cent while copper, zinc, aluminium and tin dropped between 1.5 and 4 per cent. |
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| Outlook: Led by copper all metals are likely to see an upward correction next week on anticipated supply disruptions from a strike in Codelco's Chile plant. |
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