Technicals on copper long charts indicate a support level at $1.50. We are now there. Next support is 70 cents. PCU trades in nearly direct proportion to the copper price. When copper was 70 cents, PCU was under $5.00 less than a decade ago (prior to this housing bubble).
Not long. Not short. Just watching.
Question for those most familiar with recent costs of production.
What does it cost to produce high grade copper for shipment to manufacturers?