Bloomberg:China Copper Imports to Halve

By Trader Mark
09 February 2010 @ 10:30 am EDT

Notwithstanding the action today, which is prisoner to "dollar down, commodities up" (per HAL9000 programming) an interesting blurb overnight on copper via Bloomberg.  I was surprised how popular last week's post about a copper crash was [Feb 2, 2010: Trader Who Called 1996 Crash in Copper Says Prepare for Another - "Catastrophe" Awaits] and as the dollar strengthened, copper had a very bad week.  The Bloomberg piece continues on my multi year belief that commodity prices now have less and less to do with real supply and demand (economics 1010) and rely much more on China is buying or not buying [May 13, 2009: Commodities - It's China's World: We Just Live in It] , along with 'financial innovations' in relatively shallow commodity markets. 

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