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Home‘Canaries In Coal Mines’: Copper and Iron Ore Markets Breaking Down
Posted by Larry Doyle on March 12th, 2014 10:23 AM |
Having focused meaningful attention on developments in China in recent commentaries, I am compelled to draw even further focus to the ‘canaries in the coal mines,’ that is, the copper and iron ore markets.
Let’s navigate eastward once again as the FT writes,
Copper continued to take a pummelling, with Shanghai traded futures in the metal falling by their daily limit on Wednesday morning.
That came after a frenzied day of trading on Tuesday, when copper prices sank below $6,500 a tonne to a near four-year low as concerns mounted over the fragility of the Chinese market. (more…)
