The copper futures (HGK25) market hit a record high in late March of $5.2770 a pound basis nearby futures (HGJ25) and then saw a steep price drop that pushed the red industrial metal to a nearly three-month low of $4.03 in early April. Prices then rebounded to reclaim almost half of the losses seen in late March through early April. The recent volatile price action in copper futures provides valuable clues that can be applied to other commodity markets and even to the overall global economic outlook.
