Metals melt, prices plunge as China crisis hits commodities

The Chinese stock market bubble has burst and so far, despite Chinese state intervention, there looks to be no end in sight. Saxo s Ole Hansen says 80 to 100 million Chinese investors have started to panic and are trying to reduce their exposure. Commodities in particular cyclical ones such as energy and metals are being hit hard. China consumes 4050 of all industrial metals. Hansen says that copper and nickel are leading the selloff with copper reaching its lowest level since 2009. Iron ore ha