Copper Selloff Leads Prices to 2009 Levels

Copper prices fell 5% yesterday, as growth concerns caused widespread losses and reversal in stock market’s early gains.  However, in early morning trading, during the Asian trading hours, copper is once again getting slammed.  After starting the day at roughly $2.60/ounce, copper fell to just above the $2.40/ounce level, a massive move.  However, copper has been able to recover some of its losses as of this writing, but it is still down -$.1340 or -5.07% to $2.51.  What is even more unsettling is that copper is at levels not seen since 2009 and it certainly makes traders wonder how strong global growth really is at this point.