Why Copper and Steel ETFs Are Moving
Friday, October 9th, 2009
Tom Lydon (ETF Trends) submits:
Base metals copper and steel are on the upswing. A host of factors are affecting the supply and demand sequence, which in turn is pushing related ETFs to a rally.
Copper prices are at their highest levels in six weeks, thanks to both a drooping dollar and concerns about supply of the metal. Anna Stablum for Bloomberg reports that copper prices have doubled this year, mostly because China stepped up its demand as its economy recovered. Investors are now speculating that demand for copper will only increase. (Read more about how copper is used here).
