by Chris Becker
Dr Copper is so named because of the industrial metals usually reliable correlation with economic robustness. Higher prices indicate more economic activity as its main industrial utility rises, and vice versa.
The benchmark contract for copper on the London Metal Exchange (LME) recently hit a new three month low reaching $US5,745 a tonne, getting close back to its January rout low at $5505 per tonne after a near $1000 per tonne rebound in the first half of this year. The industrial metal hit a high of $10,000 per tonne in mid 2011 and has been falling ever since, breaking through terminal support at $6000 late last year.