It has been over a year since my last copper analysis, as I have been busy with actual work. My last run to the yard was shocking as prices have dropped. Why?
Here are some charts for you viewing pleasure.
First is a daily chart...
Second is the weekly chart...
Last is a chart that goes back to 2009...
As you can see, copper has not been this low since 2010. I have heard of copper being a leading indicator for the economy, because it is used everywhere. Homes, factories, electronics, etc. Where she is going from here is anyone's guess, hopefully not to 2009 levels.
Happy Scrapping.
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