This metal has been mined for thousands of years. Copper has a very high thermal and electrical conductivity. Pure copper is soft and has a reddish-orange color. Most copper is mined from large, open-pit mines. Chile is the top mine producer of the metal, followed by the U.S. Copper is used in electrical wires, plumbing, roofing, and various industrial uses in machines. In many instances, copper is used in place of aluminum because it is a better electrical conductor. Since it is waterproof, it has been used as roofing material. The green color of copper occurs when it is oxidized over a long period of time.
To see where the global economy is headed, I follow the prices of oil and copper. The prices of these commodities tell us about demand in the global economy. If the prices of oil and copper are rising, it means there’s prosperity. If the opposite occurs, it means industry (factories) is not busy and that a global economic slowdown is no… Read More
Copper is considered an industrial metal, used in industries across the board. When copper prices fall, it’s usually an indicator of a slowdown in the global economy. On the contrary, gold bullion isn’t much of an industrial metal; rather, it is used as a hedge against uncertainty in the global economy.
When you look at these two m… Read More
Almost daily, there’s a new piece of information coming out about the Chinese economy that suggests economic conditions there are worsening. We see China’s manufacturing sector is contracting and there’s a credit crunch in the making.
The Wall Street Journal ran a story last Friday on the state of the Chinese economy and its r… Read More
Copper prices are collapsing, a sign that manufacturing activity in the global economy is slowing.
The chart below shows copper prices are down more than five percent so far this year. Notice the steep decline in copper prices starting this January.
Copper is a major commodity used as a material ingredient in a wide variety of manufac… Read More