Copper keeps falling to new lows. The 3-Month price on the London Metal Exchange fell to $6,075/mt on Friday. Will we see copper prices bellow $6,000/mt? Copper has never been this “cheap” since 2009.
With the market shifting into a surplus, copper’s fundamentals don’t look promising. Some people say that “Dr.” copper diagnoses the overall state of the global economy. If that’s the case, falling copper prices might be reflecting weakness in Europe and emerging markets.