According to LME, Copper is the second worst performing metal this year with a tremendous USD price decrease down more than 12% since end April. Following its previous pattern, this week copper's price went in the opposite direction of other commodities which took advantage of a weaker dollar.
Given its range of uses and appliances, copper is frequently used as a barometer of economic health. The weakness in the copper can be the result of economic crisis in China and globally, or the result of short-term trading strategies in Asia. The future will tell.
The graph below comes as a justification of why copper is considered to be the big loser in commodities market.
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Source: LME, mining.com, SteelIndex, COMEX, NYMEX
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