Friday, August 21, 2015

Copper & Crude Carnage Continues....MORE PESKY FACTS!

Copper & Crude Carnage Continues

Broadly speaking malinvestment-driven overcapacity and the collapse of fake credit-fueled demand continue to provide the backdrop for commodity carnage...



Copper (and aluminum) tumbled overnight as base metals were battered during an intense Asia session and losses are extending in European trading. As one trader noted "sentiment toward China is weak, the dollar is somewhat strong and there is an unholy combination of many factors keeping prices under pressure." Aluminum, nickel and zinc all tumbled also.

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