Summary
AT first glance, the news that copper prices hit an all-time high this week might seem of concern only to the nation's plumbers. In fact - and with no disrespect to plumbers - it matters a lot more than that. Copper is one of the key raw materials of the modern electronic economy.
What has happened is quite astonishing. Not only has the price on the London Metal Exchange doubled over the past couple of years but the amount of metal held as stock in the LME and other market warehouses has plummeted to a mere fraction of what was the norm a couple of years ago. On some estimates, there is little more than four weeks' supply.See the full content of this document
Extract
Piling Up Commodity Problems
It is not just copper. The surge in the price of oil has been obvious to everyone, but in essence one commodity after another - gold, steel, anything used in industrial production - has been hitt...
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