The base metals were mixed again on Wednesday. Copper sagged through the pre-dawn hours, but recaptured the lost ground during the New York session, finishing at $3.6395/lb., up a penny and a half.

The base metals were mixed again on Thursday. Copper sank during the pre-dawn hours and fought its way back during the New York session though it fell short of positive territory at $3.6068/lb., down more than a penny and a third.

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The blahs seem to have taken firm hold of the industrial metals, with yesterday being a day of little change, just like Monday.

The Canadian Markets starting the trading month off on a quiet note with investors electing to focus in on the bigger brand names.

The base metals were mixed on Monday. Copper was off in the pre-dawn hours but rallied back during the New York session yesterday, to finish little changed at $3.6665/lb., down just over a tenth of a cent.

Copper prices have risen in London trade on news that US manufacturing data contracted less then expected in May.

This from Casey Research:

“‘Copper’s fundamentals this year are very supportive — this is a market in deficit. We would expect to see any further drop from these levels as being short-lived,’ said Gayle Berry, metals analyst at Barclays Capital.

The base metals endured a serious bloodbath on Thursday. Copper fell off a cliff at the open of the New York session and never recovered, finishing at its intraday low of $3.6416/lb., down 10½ cents.

Interesting how certain threads come together…I read recently that copper producers are complaining about the skyrocketing costs of sulfuric acid. A few days later, I read about Mosaic, a fertilizer company – about how the rising cost of sulfuric acid could impact its profit margins.