H3 Global Advisors, a Sydney-based commodities and hedge-fund manager is reducing its exposure to nickel and Zinc. According to Reuters, nickel fell as much as 16 percent while copper fell a total of 5.6 percent due to the news about the Greek debt crisis.  This in turn will spread and undermine the global economic recovery.

Andrew Kaleel, chief executive officer of H3 with A$250 million ($227 million) under management said in an interview, “Confidence in debt markets is quite shaken at the moment and fears of another contagion have led to risk being taken off the table.  We are still playing it defensively.”

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