CENX - Industrial miners under pressure from slumping metals prices

Shares of industrial metal miners appear headed for another down day, as worries over Chinese steel production accelerate losses for iron ore and copper prices. Big pre-market decliners include VALE -5.2%, FCX -3.9%, AA -3.4%, BHP -3.4%, TECK -3.2%, RIO -2.9%, CENX -2.4%. Steelmakers are posting hefty losses: MT -4.6%, CLF -3.1%, TX -3.1%, NUE -2.8%, X -2.3%. Other relevant tickers include OTCPK:GLCNF, OTCPK:GLNCY, OTCQX:AAUKF, OTCQX:NGLOY, OTC:ANFGF, OTCPK:FQVLF Iron ore futures (SCO:COM) in Singapore are crushed as much as 12% to the lowest since December on expectations that Chinese steel output and consumption will weaken over the rest of the year. Benchmark London copper (HG1:COM) recently -2.9% at $8,783.5/metric ton after falling to $8,740/mt, the lowest since April 1. All base metals are lower, even tin, which hit all-time record highs last week in London. "China's government is determined to slow growth - they have been flagging this since March

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Industrial miners under pressure from slumping metals prices