Copper Prices Crumble

Copper prices crumble: It was an ugly day for Copper bulls as speculators continue to leave the Copper market. Since hitting its all-time high at 407.00 on May 11th, Copper prices have fallen over 50 cents a pound. A report from International Copper Study Group cited, a global surplus in Copper for January and February. The recent rally in the US Dollar also was noted as a key factor in the recent price decline. The LME has raised sharply the margin requirements for several of its base metals contracts including Copper to help combat the extreme volatility in the metals markets. Traders reported good selling pressure throughout the day, with most of it being long liquidations. Read More...