Fair point.
Assuming,
1. Cost of manufacturing/extraction has remained the same.
2. Lows of 2008 were the point was the marginal cost of extraction.
3. Rupee is at same level as 2008 lows
All three are not true. None the less, making those adjustments would probably mean the bottomest bottom for these metals would be 20-30% higher from 2008 lows. But economic situation not so bad as 2008. That kind of panic not there.
None the less, after seeing 20-25% falls in lead, zinc, aluminium over past 3-4 months, I was like how much lower can they really go from here. Then i looked at long term charts and realized these have fallen 75% from top before.