Is Copper’s Price Flop a Signal of a Stalling Economy?
By Leia Michele Toovey- Exclusive to Copper Investing News tweetmeme_source = ‘digmedia’; Share Copper tracked a modest rebound on Tuesday, climbing 2.5 percent to touch $6,630.25 per tonne in early morning trading on the LME. In the two previous sessions, the metal, often looked to as the barometer of economic health, lost almost 10 percent of its value. On Monday alone copper prices plunged 6.4 percent, posting the largest one-day drop since the 2008 financial crisis. Copper for three-month delivery in London fell to $6,430 a tonne on Monday, just one month after hitting a peak of $8,042 per tonne. Along with other commodities, copper has been in a freefall for nearly a month, since worries about Greece’s ability to service its heavy debt load came to the forefront. Copper prices collapsed in 2008 as a result of the global economic crisis. Throughout 2009, copper prices recovered as investors bet on an economic comeback. Now, the metal is taking a hit as investors fear that the globa
