Sunday, July 12, 2015

Copper price plummets

Copper has fallen 19 cents at the start of the past week, and was down 30 cents the past month.   The close on Wednesday  was $2.42/lb after briefly touching $2.40.  The price rallied back to $2.54 by week's end.  

Phoenix-based Freeport McMoRan Copper & Gold, the world's largest publicly traded copper producer saw their stock plummeted to $16.03 intraday.on Wednesday.

The price drop is not restricted to copper but is affecting all metals.  Arizona produces about two-thirds of the copper used in the US, so the price has a big impact on jobs and the economy.

1 comment:

  1. Anonymous5:17 AM

    I guess that this is due to global economy issues? Perhaps the (blown way out of proportion greek issue?)