Copper takes out multi-year low

|By:, SA News Editor

A continued wave of morning selling has brought copper lower by 4.3% on the session to $2.95 per pound, the weakest level since the summer of 2010.

Copper started the year at $3.40 and its swift decline this week comes amid horrid Chinese export numbers, a plunging price of iron ore, and chatter about defaults and banks calling in loans in China.

JJC -3.1%

Other copper ETFs: CPER, CUPM

Copper producer ETFs: COPX, CU