The base metals were mostly in the red on Tuesday. Copper tumbled during the early part of the New York session, but rallied strongly from there to regain most of the lost ground and finish at $3.7999/lb., down a penny from Friday.
The base metals were mostly in the red on Monday. Copper fell below $3.87 in the pre-dawn hours, then moved steadily higher from there although it failed to return to break-even, finishing at $3.9442/lb., down 3½ cents from Friday.
Q: Even if the U.S. should go into an extended recession and dampen the global markets as well, won’t the emerging markets’ need for oil and other material commodities continue to boost demand and prices? – L.H.