![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhb8M89f2111Bf95iJM9e581tTEAE2ndli6hzlinVIZSVgbHfVgULmUzgNoi9YJZBfjQm27YZiWguBazMd7kdK_T8241_zP_vXbF7SNa-LiDl-ZI_nXOJj6JchdJC4WUch5sCKmkA/s400/cu+monga+bay.png)
Bank of America - Merrill Lynch predicts copper will average $11,250 per tonne in 2011, or $5.11 per pound. It closed today at $4.13.
They say copper will be the top performing commodity in 2o11 even considering they project gold at $1500 an ounce. This is big economic news for Arizona which produces about 2/3 of the copper used in the U.S. [right, copper price in dollars per metric ton. Credit Mongabay.com]
In 2009, the value of copper produced in Arizona was $4.2 billion, down 39% from 2008 due to the collapse in price. The price has recovered and is hitting new highs lately.
No comments:
Post a Comment