Copper’s June spot price marked a 15-month low for the commodity and its lowest price since rebounding from its early COVID-19-induced nadir. Although the price of the commodity is still historically high, the directional movement of the price of copper has historically served at times as a useful harbinger of future manufacturing and construction materials prices. Twice since 2008 has the price of copper fell just before an overall decline in general construction material prices.
Is Copper’s Price Plateau Signaling a Future Decline in Overall Construction Material Prices?
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