Copper Prices Plunge in 2010Posted: February 5, 2010
Copper prices have plunged so far in 2010. The 19% price drop from the peak set in early January is the largest price decline during the entire rally off March’s lows. Copper is now trading at prices last seen from August to October of last year.
(chart from StockCharts.com)
The dollar’s rise and monetary tightening in China have no doubt played a role in pressuring copper prices this year. This trend bears watching given inflation should remain tame if commodities like copper continue to fall.