The price of copper sagged during the spring on concerns about a slowdown in economic growth in both the US and China, while Europe seemed to be mired in a long recession. It rebounded slightly during the summer and fall on signs of a recovery in Europe and better growth in China.
However, our trusty CRB raw industrials spot price index--which includes copper and 12 other commodities--has been sagging since the summer, gradually declining recently to the lowest reading since November 28, 2012. That’s despite the recent weakness in the trade-weighted dollar, which should be providing some lift to the commodity index.