Copper hammered again, lowest level in 18 months

Copper market update for Friday, April 15. Like gold, silver and other commodities, silver has taken a beating in the last few trading sessions. As the title implies, copper has hit its lowest level in 18 months. Economic data and forecasts from China show weaker demand for raw materials, including copper. Copper is roughly 20% below its Feb 2012 peak, which is a key indication that a bear market is afoot. However, much of the drop has been driven by short sales. Analysts say once those end, copper could see a big rally. Read more…