| With copper prices down over 50 percent from 2011 peaks, and the metal's reputation as a harbinger for the health of the economy, is there a U.S. recession on the horizon? Not according to Wells Fargo, which said in a recent note that it was "not convinced that copper deserves a MD (doctor of medicine) but that it deserves a PhD in economics" instead.
Three-month copper on the London Metal Exchange is trading around $4,650 a metric ton, which is 0.8 percent lower year-to-date but 10 percent lower from a year ago. And Goldman Sachs forecast recently that the metal would see some significant price pressures in the coming months due to a"wall of supply".........................................Full Article: Source
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