Friday, November 12, raw materials and products in the global markets had a dramatic fall in price according to news from China. Inflation exceeded 4 percent and it is believed that the central bank will raise interest rates, which will have a restraining impact on the economy and China’s largest consumer of raw materials.
Oil prices for December delivery dropped 3.4 percent and the New York Stock Exchange totaled 84.88 dollars per barrel. But sugar price slump took the record: London white sugar contracts have decreased by 12 percent, reaching $677 for one ton; sugar raw materials prices have decreased as well.
Prices for metals and agricultural products also declined: cotton 4 percent, gold prices dropped to $1,365 per ounce.
On November 11, the price of copper on the London Metal Exchange reached a record high at $8,966 per ton. On November 12, the price of copper dropped about 3.4 percent and was estimated at about $8,670.