That was some dive, wasn't it? Yes, but from where, and to where? On Tuesday October 12th, London spot aluminium closed at $1,842 a tonne; copper at $3,204; lead at $1,000; nickel at $15,713; tin at $9,170; zinc at $1,130. That evening the London Metal Exchange (LME) held its boozy annual dinner. By next day's close, aluminium was down 5.1%; copper 5.0%; lead 3.0%; nickel 12.8%; tin 4.9%; and zinc 4.7%. Cynical journalists gleefully put two and two together, ascribing the fall to the (tradi-tional) hangover and sluggish business, and made five.
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