China and Greece have fallen off the price of non-ferrous metals
Additional measures were announced in early July, designed to stabilize the stock market of China. This event is in conjunction with the referendum in Greece were the impetus for the collapse in the value of non-ferrous metals. And Hyundai Futures Corp experts believe that the risk from the PRC than the risk emanating from Greece. China firmly takes the position of the world's largest metals consumer. Europe takes IImesto. Now, however, these areas appear doubtful in terms of reliability investment. And investors evince concerns about demand. It is likely that the consumption of non-ferrous metals fall sharply.
07/06/2015 Copper dropped in price since the beginning of trading on 4,2% of the initial value. Over the past six months is the most significant jump. 3-month copper futures on LMEupali by 3%, amounting in the end 5588 USD / ton. The lower limit was 5520 USD / ton. Elsewhere on the Comex red metal with delivery 09.2015 fell in price by 3.6% to $ 2.5355 / lb. Nickel on LMEupal in price by 3.3%, reaching the mark of 11 610 USD / ton. Another 4 basic metal lost in the value of at least 1%. Since the beginning of 2015 the index of base metals 6ti LMEupal more than 10%.
The crisis in Greece, Europe harassing, may play into the hands of Russia. The country is increasingly willing to configured on a strategic alliance with Russia. After the referendum, Putin phoned to the Prime Minister of Greece to support expressions. Shortly before that Tsipras twice visited Moscow. At the same time it signed a preliminary agreement on the gas pipeline. It is designed to transport natural gas from Russia to Europe through Greece and Turkey, bypassing Ukraine.
However, even before the referendum, only 23% of Greeks had a positive attitude towards the EU. According to a study Pew Research Center 63% of the population spoke positively about the cooperation with Russia. In February Panos Kammenos, the defense minister, he said that in case the transaction does not take place there must be a plan «B». And it may well include Russia. Chance and a bluff on the part of the Greek leaders. It is unlikely that the Russian government will rush to the rescue of the Greek economy. Russia has enough problems of its own. But the economic crisis in Greece, weakening Europe, Russia is not an obstacle. It is possible that Russian companies with physical persons, united with the representatives of China, Germany and others, will buy up the country's infrastructure.