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Posts Tagged ‘manufacturing in New York’

Why is Copper Melting Down?

Posted by Larry Doyle on May 17th, 2010 2:26 PM |

If manufacturing and industrial activity is supposedly picking up in the largest economy in the world, that being the United States, then why is the price of the base metal copper melting down?

Let’s look at a WSJ graph of copper for the last twelve months:

chart

We can witness that copper rebounded strongly during 2009, given the global meltup in virtually every risk-based asset. Copper closed out 2009 at approximately $3.35/lb and then proceeded to melt down in January of this year when markets got hit. (more…)






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