Copper prices have long been viewed as a proxy for the health of the global economy, hence the popular moniker: Doctor Copper.
Of late, however, the red metal’s fortunes have waned, even as expectations for a stronger global economy have propelled equity markets sharply higher.
Such a divergence might soon face a day of reckoning because the sharp slide we are seeing in the price of copper and, to a lesser extent that of iron ore, might well be a sign that a nasty financial crunch is developing in China.
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