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Thursday, March 28, 2024

World Growth vs. Copper with 3-Month Lag; Iron Sinks to 5-Year Low; US Will Not Decouple

Courtesy of Mish.

Copper is frequently cited as a leading indicator of economic activity because if its widespread use in many sectors of the economy, from homes and factories, to electronics and power generation and transmission.

For that reason, some call it “Dr. Copper“.

Inquiring minds may be wondering what copper has to say about future economic growth. The following charts will explain.

World Growth vs. Copper

Copper Daily Chart

The above charts courtesy of Steen Jakobsen, chief economist at Saxo Bank.

Iron Ore Down 38% this Year

China is slowing and its property bubble is under severe pressure. But it’s not just copper that is under pressure.

Iron has taken a big hit, and iron producers are under severe stress.

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