Skip to comments.Copper Is Getting Smoked After Bad Chinese Data
Posted on 03/09/2014 6:14:07 PM PDT by blam
Copper Is Getting Smoked After Bad Chinese Data
March 9, 2014, 7:56 PM
Copper futures are down 2.5% in early trading, to $3.0060 per pound.
Copper has been taking a beating recently and it is likely that the recent decline in Chinese exports weighed on the data.
Chinese exports were down 18.1% on the year in February, after rising 10.6% the previous month. Imports however were up 10.1%.
While economists have warned about reading too much into Chinese data in the Jan-Feb period because of the impact of the Lunar New Year holiday, this has raised concerns about the economic slowdown in China.
Copper prices also tumbled on Friday on news of China's first domestic bond default. And remember Dr Copper is considered to be an important gauge of economic health.
(Excerpt) Read more at businessinsider.com ...
Could this indicate that Ammo Prices may be heading south?
It depends on what percentage of the bullet is copper and how much the manufacturer is dependent on the spot price.
I assume any large user employs hedging strategies to moderate price swings.
I'd expect not.
Sure as hell ain’t from a lack of copper demand from ammo sales!