this is one of the most important metals of the industrial age…maybe not the most important but in the top 5 at least
Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the global resources sector.
It’s been a brutal week on the copper market with prices falling nearly 10% reaching the lowest since July 2009 – the height of the financial crisis.
This week on the economic calendar we have from China, the world’s biggest copper consumer, the GDP year-over-year of the 4rd quarter that is expected to fall from 7.3% to 7.2% showing a shrinking economy. The Chinese retail sales are estimated to stay unchanged at 11.7% reflecting economic stagnation.
Copper rallied on Frida’s session breaking above the inside day and closing near the high of the day. The commodity is still in a bearish phase since the end of September 2014 but the bottom seems to have confirmed for now and a bullish correction is in…
View original post 32 more words