The best performing commodity in the base metals sector in Q1 was LME lead, which fell 11.23%. LME copper, COMEX copper futures, aluminum, tin, nickel, and zinc all posted more significant percentage losses.
Meanwhile, the price of iron ore moved almost 10% lower in Q1, and the Baltic Dry Index plunged almost 50% in Q1 after dropping over 40% in Q4 2019.
Industrial commodity prices experienced a perfect bearish storm as economic activity around the world ground to a halt as the Coronavirus spread across the globe. When OPEC and Russia abandoned production quotas on