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Copper Prices Boom Despite U.S. Recession

Posted July 1, 2008

“It doesn’t matter if the U.S. is in a recession or not because copper demand will continue to grow thanks to emerging economies like China, India and Brazil. Mix this in with sporadic strikes that cut back copper production and you have a clear cut case for higher copper prices in the future.” — Charles Delvalle

by Charles Delvalle

Baltimore – (TFN): Some say that if the U.S. economy begins to shrink, we’ll see demand for metals drop, especially copper. Well, it doesn’t matter if the U.S. is in a recession or not because copper demand will continue to grow thanks to emerging economies like China, India and Brazil. Mix this in with sporadic strikes that cut back copper production and you have a clear cut case for higher copper prices in the future.

Just take a look at a chart of copper to see what I’m talking about…

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As you can see, the price of copper has been rising since late 2001. But since 2007, copper prices haven’t passed the $400 level. Even with that happening, copper continues to make higher lows.

This forms an inverted triangle pattern. Find a chart of copper prices and learn which copper company is the best bet for profits.

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