Copper drops, but not as much as you might think (or wish for)

For an amusing hour or so yesterday, Kitco, my favorite metals reporting web site, was claiming that Copper had dropped a dollar to $2 and change. It must have been a reporting glitch, because later the metal went back up to $3 and change. But for a few minutes there I was ready to break out the champagne.

But copper at $3 is a lot better than a year ago, when it was up to $4.

Likewise, zinc is still above “normal” levels, but has subsided recently to a buck (it had been $2 just over a year ago).

Nickel, having been close to $25 a year ago, is down around half that now. For a while, in late 2007, it was actually down under 12

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