The copper price is certainly not taking kindly to news that price controls are being imposed in China, the metal with a PhD in economics plunging $20 yesterday, recouping only a fraction of that today, and now down sharply from the two-year highs of a week ago.
And it’s not just copper. From the price peaks of early-last week, aluminum is now down 9 percent, nickel has dropped 12 percent, lead is 14 percent lower, and zinc, the metal with the least support from “normal” demand factors (i.e., actual demand, rather than just a place for some of the Fed’s easy money to go) has seen its price plunge 17 percent.
