14.01.2015 - Copper ETN Trips to Lowest Since 2009
The copper exchange traded note dipped Tuesday to its lowest point in almost six years as traders dumped copper on a weaker outlook in China and a potential pullback in oil-services-related industrial activity due to cheaper oil. The iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEArca: JJC) fell 3.4% Tuesday and was hovering around its lowest since May 2009. Over the past year, JJC declined 20.0%. Short positions in copper are at a multi-year high as traders hold a more pessimistic outlook over China’s growth and diminished demand for the industrial metal, reports Jenny Cosgrave for CNBC...............................................Full Article: Source
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