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JJCTF - Copper Tanks Freeport-McMoRan Follows The Red Metal Lower
iPath Bloomberg Copper Subindex Total Return Sub-Index ETN
Copper is a bellwether industrial metal. The red metal is a critical ingredient when it comes to infrastructure building around the world. Economic growth in China, the world's most populous nation, is a dominant factor when it comes to the path of least resistance of the price of copper and other nonferrous metals. Double-digit economic growth in the Asian nation in 2006, 2008, and 2011 pushed the price of copper to over $4 per pound. The all-time high at $4.6495 in 2011 came at a time when all commodity markets moved to peaks during the