Metals are sliding due to recession worries, higher for longer rates and China concerns, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris. China is the story that is dominating commodity markets. A handful of large Chinese property development companies are under stress. Today Evergrande announced it filed for bankruptcy protection in the US. Earlier this week China's largest private real estate developer Country Garden missed a bond payment. With China worries, investors fled to the U.S. and the dollar gained. The dollar hovered around a two-month high on Friday. The dollar is set for its fifth consecutive week of gains in the longest winning streak for 15 months, according to a report by Reuters. As of noon ET Friday, gold had dropped through $1,900 level to trade in the $1,890 range. Oil is at the $80 barrel level, and copper is near $3.70 lb. Even critical metals are not immune. Tesla (TSLA) has trimmed prices on its Model S and Model X cars in China. The prices are being reduced by more than 6%. Tesla is down 10% for the week. The lithium index is down 5% over the past five days and trading at a 52-week low. There was some bullish news. On Thursday a consortium of Ford and South Korean companies announced a C$1.2 billion ($887 million) plant to produce electric vehicle (EVs) battery materials in Becancour, Quebec.

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