Dr Copper in need of some medicine

Livewire News


"If this week’s better data from China convinced you that things in the world’s second-biggest economy aren’t that bad after all, check with Dr. Copper. The metal, known to some as the commodity with an economics degree, plummeted to a six-year low of $5,240 a metric ton last week on the back of the rout in Chinese stocks… China consumes almost half of the world’s copper and industrial metals are more exposed to any hiccups in its economy than other commodities including coal and oil, according to Deutsche Bank AG data. Morgan Stanley, which said this week a slowdown in the country could tip the world into recession, predicts copper demand in China to grow at the slowest rate in five years." Read the full article on Bloomberg: (VIEW LINK) Chart: Copper prices (in blue) have fallen as stockpiles in London Metal Exchange warehouses (red) have built

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