"The resources boom was supposed to be a supercycle that lasted...

"The resources boom was supposed to be a supercycle that lasted for a decades. A case of the old saying "This time its different" as has been said in every boom.

It seems all over for Nickel (down about 60% off highs from last year), Zinc (down 60%) & Lead (down about 50%)."

It is only a problem for people who thought boom meant 50% prices rises year after year. Are prices for all base metals well above the levels they were at pre-boom. Yes.

Incidentally while some exchange traded metals have been hammered non exchange traded stuff like iron ore, coal, molybdenum, tungsten, vanadium ...continues to rise. These contracts reflect the true supply demand situation because they are between producer and user. Not a hedge fund or speculator in sight. Given that base metal stockpiles are 20% of what they were 5 years ago you'd have to wonder how much hedge funding shorting has contributed to prices being smashed on the LME.