Copper prices

Copper Collapses Most Since Dec 2011 On China Credit Fears

Copper Collapses Most Since Dec 2011 On China Credit Fears | Zero Hedge

"The deleveraging is now spreading to copper prices (remember the massive cash-for-copper schemes of last year) as borrowers are forced to sell to meet cash calls which in turn drops copper prices, reducing collateral values and tightening credit conditions even more. This is the biggest copper price drop since Dec 2011..."

[IMG][/IMG]



Not sure, but I would not be surprised if the drop was also part of a coordinated attempt to smash gold and silver. Wouldn't be the first time we see this around non-farm payroll data days. Hardly did much to gold, and platinum and palladium hardly moved at all on Friday.

I guess I'll just be holding on to what I've got then..

Looks like the big dogs might be fighting it out, if this story from a few months can be believed

The Big Squeeze - mystery hand scoops up copper | Reuters

Bare bright 3.15?.....thats more than comex....doubt it

If "they" are starting to use comex copper prices the same way it is being used to free up gold and silver, we might be in for some hurt. It looked that CU prices had stabilized, but it looks like a visit to $2.80 or so might be in the cards.

Lower prices should continue

Originally Posted by jord0690

I can send you the link to the website if you like. They post prices.

Im not a liar...

Edit: sorry its 3.10 per pound for bare bright. Was 5 cents off.

Your $3.10 is Canadian funds. It equates to about $2.80 US funds. Nice to see copper climbing lately.