Skip to comments.Copper Sinks on Weaker Chinese Data
Posted on 01/04/2014 4:07:16 PM PST by BenLurkin
China's official nonmanufacturing Purchasing Managers' Index fell to 54.6 in December from 56.0 in November, according to the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion. The nationwide gauge covers services such as retail, aviation and software as well as the real-estate and construction sectors.
Copper prices sank to $3.3480 a pound, their lowest traded level since Dec. 24, as investors sifted the report
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As the saying goes... when coppers weak so is the economy.
Hope the copper theives read the memo.
OTOH the Darwin winners who attempt to steal live caternary from the railroads and hot transformers are cleaning up the gene pool.