UH-OH: Copper Is Getting Destroyed

Equities are down a bit today, but the real carnage is in commodities.

Gold is down over 2.5% and silver is down over 5%.

What’s really getting killed though?

Copper. It’s off over 7%, and of course that one has a great reputation as an economic bellwether.

Here’s a multi-week look. Note the big black bar at the end.

From CME Group…

chart

The move is being attributed to concerns about China.

For Goldman’s recent China observations, see here.

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