Copper Feels Gravity As European Worries Reign

May 8, 2012 12:45 PM EDT Send to a Friend
Copper futures fell hard today, dragging the price of copper ETFs lower by 2 percent intra-day. The selloff was triggered by headline data out of Europe, which has had a difficult start to the week after elections in France and Greece were won by left-wing, anti-austerity leaders.

The sell off in copper is likely to be capped somewhat, as the market waits for data out of China later this week. China is the largest consumer of copper in the world.

Two commonly traded copper ETFs are ISE Global Copper Index Fund (NYSE: CU) and DJ-UBS Copper Total Return Sub-Index ETN (NYSE: JJC).


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