It was another terrible day for the base metals Monday as copper, zinc, nickel, aluminum, and lead were all down during the day’s trading. After remaining flat in early trading, copper prices plunged in the pre-dawn hours, falling almost 13 cents, to $3.5065/lb.
Zinc rose slightly in early trading, but soon succumbed to the downward pressure of the day to close at $0.7959/lb., down over 3 cents. Nickel fell badly throughout trading Monday, ultimately ending just off its intraday low, at $8.0603/lb., down 15½ cents. Aluminum also trended down all day, dipping below $1.27/lb. just before noon.
While prices recovered slightly, aluminum still finished the day down 3 cents, at $1.2796/lb. Lead was not immune to the base metals’ woes on the…