The Phaserl


Copper Carnage Continues – Bloodbath At China Open

from ZeroHedge:

COMEX Copper crashed to as low as $242.35 (from $261.70 before China’s open). The catalyst for the move is unclear but between technical level breaks at $250 (and support at 2010 lows), World Bank global growth forecast cuts, and capitulation on CCFD rehypothecation deal hedges… massive volume is pushing through futures markets…  LME prices are as low as $5,500/mt… Crude prices are also tumbling (WTI back below $46)

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