Copper Prices Are On the Downside

Copper prices are on the downside after making record highs. Carefully follow the price of copper before you buy copper mining stocks like Freeport-McMoRan Copper & Gold (FCX), Phelps Dodge (PD) or Southern Copper (PCU).

Copper Price Charts From kitco.com (Click Charts)

The drop in copper prices is due in part to inventory build ups. The charts from the London Metal Exchange (LME) and the New York Mercantile Exchange (NYMEX) show a trend of increasing inventories. As supply exceeds demand prices fall.

Copper Inventory Charts From kitco.com (Click Charts)

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Posted January 4, 2007.