against the background of the sliding dollar. Nickel had the most considerable price increase at London Metal Exchange today. A ton of this metal gained 5.09 percent and reached the maximum of this year – $15359.

Tin gained 4.62 percent to $15850 per ton. Copper overcame the psychological level of $5000 per ton – to $5180. A ton of aluminium increased by 2.44 percent to $1638, zinc – by 2.75 percent to $1607, lead – by 3.22 percent to $1744.

The market of metals, just like the market of oil, may undergo a speculative attack, specialists believe. Investors currently concentrate their activities on raw materials, producing yet another financial bubble. Experts say that such a considerable price growth on metals contradicts to the state of affairs in the real sector of economy, which suffers from a very serious crisis.

Many news agencies reported a possible bankruptcy of several US companies dealing with the distribution of non-ferrous metals. Manhattan Brass & Copper, for instance, decided to close its Maspeth service center in New York before June 18.

A spokesman for the company said that the enterprise suffered from the decline on the market of non-ferrous metals as a result of the economic crisis.

Manhattan Brass & Copper was established 71 years ago, but it failed to stay afloat under the current economic conditions. Now the company will have to put Maspeth up for auction.

Pravda.ru

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