Copper is subject to the same price pressure as gold and silver.
China is trying to get rid of her dollars and so is the marginal buyer right on up the scale.
She is also pressuring iron ore which has moved sky high over a ten year period. Just so you'd know: China is now able to smelt 600,000,000 tons of steel a year. That figure is greater than America+Europe+Japan+Korea !
So naturally China is expanding production to 660,000,000 tpy.
Similar increases in conductor production are underway.
China is now slowing or stopping exports of gold, silver and rare earths.
Rare earths are the magic inside high tech light fixtures. So you can take it to the bank that price increases are coming soon to a fixture installed by you.
( RE have jumped from $4 to $40 per pound in 60 days. )
If China adjusts its currency upwards amazing things will happen for our trade.
