Nick Moore Copper Quotations

This was a short-term technical move, but might give a taste of what could happen in copper when the funds try to exit the market.

Copper consumption fell 1.5 per cent globally last year. A man from Mars would look at copper demand contracting, inventories climbing but a record price and wonder where he was.

The broad-based nature of this indicates that maybe what we are actually seeing is index selling, which affects all commodities. It is not just copper having a bad day, it is a number of commodity markets.