Sunday, May 08, 2011

Copper rebounds after brief drop to 5 month low

The chaos in the commodities markets dropped copper prices to their lowest level since December but they bounced up on Friday, amid expectations that global demands in the next year will push supplies. In contrast to gold prices which are subject to much speculative forces, copper is generally viewed as an indicator of economic growth.

Arizona produces about 2/3 of the copper used in the U.S. [photo credit, Freeport McMoRan]

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