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 Replies: 13 / Views: 1,272 |
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Pillar of the Community
United States
543 Posts |
Is copper really down over 30 percent, tumbling around $2.47 according to Kitco. Is it another glitch in the markets?
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Bedrock of the Community
13014 Posts |
Its really down. Theres a lot of concern about global growth coming to a crawl which sent it into a tail spin
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Pillar of the Community
 United States
543 Posts |
Copper is definitely down today, although Bloomberg states it is down by 1.1 percent today.
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Pillar of the Community
United States
1903 Posts |
Wow, the bottom fell out of copper today...... any much lower and maybe we will see the return of the 95% copper cent! Lol
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Pillar of the Community
United States
543 Posts |
(124) Not Allowed - Auto-Removed has it sitting at $3.71, down Two Cents intraday. |
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Pillar of the Community
United States
1903 Posts |
Where I get my reporting it has it down 35% ($1.29) per pound.
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Pillar of the Community
United States
1450 Posts |
Are we talking spot or futures?
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Pillar of the Community
United States
1903 Posts |
Spot....but things seemed to have normalized....must have been a weird blip
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Bedrock of the Community
13014 Posts |
I saw it down around 2.50 as well. Looks to have recovered maybe some big buys came with the big drop or a system wide glitch.
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Rest in Peace
United States
4078 Posts |
To many people turning in their copper cents. lol
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Bedrock of the Community
13014 Posts |
The funny part is that probably could actually cause a decent drop
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Valued Member
United States
397 Posts |
LOL, I'll keep saving my copper pennies and ride it out. ;-)
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Pillar of the Community
United States
2764 Posts |
I just read a 7 pages blog by Michael Pettis about the crash of "hard commodities", especially copper & iron ore & coal. The main reason is China growth slowing down (from 10+% to about 5% in the next couple year) and the excess in inventories (of unprocessed commodities as well as final products) in China. Here's the source: http://www.mpettis.com/2012/09/16/b...e-collapsed/ |
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Moderator
 United States
188560 Posts |
Quote:
...any much lower and maybe we will see the return of the 95% copper cent!  But it would not matter. It still costs more than a cent to make a cent, even if the copper were free.  |
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Replies: 13 / Views: 1,272 |
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Posted 09/26/2012 10:06 am
