A feeble attempt at a rally yesterday evaporated on Friday with the copper price hitting a fresh six-and-half year low of $1.9365 a pound ($4,270 a tonne) after falling nearly 2% in New York.
Glencore (GLNCY), the metals trading and mining giant, has fallen 72% since the beginning of 2015. The bearishness in the entire base metals sector pulled Glencore’s prices down to multiyear lows.
Deflation is still on the market, and this is while Canadian mining try to escape from this Circumstances and this can hit the Canadian economy by the price of minerals and metals.