China Copper Consumption Indicator 2nd Highest on Record
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The price of copper is on the mend today, coming off levels that saw the metal testing fresh lows. The move comes as Goldman Sachs Group said its China copper consumption indicator fell 3.4 percent in April vs. a year earlier, but the level was still the second highest on record, according to a report issued by Goldman analyst, Max Layton.
DJ-UBS Copper Total Return Sub-Index ETN (NYSE: JJC), which tracks copper futures, closed at 43.81 yesterday, but should open higher since we are seeing a rebound in the price of copper futures this morning.
DJ-UBS Copper Total Return Sub-Index ETN (NYSE: JJC), which tracks copper futures, closed at 43.81 yesterday, but should open higher since we are seeing a rebound in the price of copper futures this morning.
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