Copper Prices Just Made A 6-Year Low by Bryce Coward, Gavekal Capital
The downtrend in copper prices has been one of the most persistent trends in financial markets in recent years. Today that trend was confirmed again as prices made a new 6-year low. This price weakness is no doubt linked to slowing nominal GDP growth out of China, but also likely reflects the weakness witnessed globally since the great recession. Calling the bottom for copper, and likewise the economic “liftoff”, has been a futile exercise.