Tuesday, September 20, 2011

Ruh-Roh. Copper's Down

I've often mentioned that copper is "the old farts' leading economic indicator."

That's because copper is used in damn near every manufactured good, not to mention power-transmission (infrastructure/RE development/housing).

Copper prices are showing strain amid worries that Europe's sovereign-debt problems will substantially erode demand and create a surplus of the industrial metal.

Futures on Monday hit a fresh low for the year, falling 3.8% to $3.7715 a pound.


HT:  Ritholtz 


neomom said...

Crack dealers hardest hit

neomom said...

Comment number one is from my husband btw :-)

jimspice said...

Maybe they'll stop stealing it out of all the foreclosed homes.

J. Strupp said...

Copper's so cheap I'm gonna have to go back to scrapping manhole covers.