Don't Get Taken to Woodshed, Sell Industrial Metals (JJC) (DBB) (XME) (AA)

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Investors in industrial metals ETFs (NYSE: JJC) (NYSE: DBB) should be advised that copper may fall to as low as $6,500 a metric ton in the third quarter, according to Michael Widmer of Bank of America Corp. He also sees aluminum dropping to $1500 per ton in 2013/2014.

"With headwinds to growth persisting, the environment for cyclical assets, including industrial metals remains challenging," the London-based analyst said in a report today.

In Widmer is correct, metals futures traders and equity investors could be taken to the woodshed. On Friday, SPDR S&P Metals and Mining ETF (NYSEARCA: XME) lost 2.31 percent following a lukewarm jobs report in the U.S. XME has a 3.17 percent weighting in aluminum company, Alcoa (NYSE: AA).

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Bank of America, Standard & Poor's

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