Copper Falls to Three Year Low
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October 22Copper prices fell to their lowest level in three years today because of slackening demand in the face of global recession fears, the financial website Bloomberg.com
"The price of copper plunged 13% this week," Bloomberg.com stated. "Global output outpaced demand by 65,000 metric tons in July, the International Copper Study Group said on Oct. 20."
Copper prices have dropped by 35% in October, with a third of the month yet to come. Bloomberg said the metal was, "heading for the biggest monthly drop since at least 1989, when the data begins."
Read the complete article at www.bloomberg.com