Just six months ago, on July 2, 2008, the price of copper on Comex closed at a record high $4.08 per pound. Today, copper is trading in the $1.45 range, down $2.63, or 64 percent from that historic peak, with all indications suggesting it has further to fall. Many questions arise from this reversal of fortune. They include how and why the market rose the way it did, and, just as important, what caused the precipitous fall.
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