Copper May Post First Drop Since 2001
The worst housing slump since 1980 will reduce sales
of copper pipes and wires in the U.S., while shipments to China will slow as officials
raise interest rates and finish construction for the summer Olympics.
Bloomberg reports: "Copper may drop for the first time in seven years as the U.S. slips toward recession and the Chinese government reins in the world's fastest-growing economy.
Bloomberg reports: "Copper may drop for the first time in seven years as the U.S. slips toward recession and the Chinese government reins in the world's fastest-growing economy.
"The worst housing slump since 1980 will reduce sales of pipes and wires in the U.S., while shipments to China will slow as officials raise interest rates and finish construction for the summer Olympics, said David Threlkeld, president of Resolved Inc. in Scottsdale, Arizona. At the same time, Chile and the Democratic Republic of Congo will increase supply, the International Copper Study Group forecasts."
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