“Dr. Copper”: 3 reasons behind the 30% plunge in the price of copper (and why it is a key indicator of global economic health)

  • Cecilia Barria
  • BBC News World

14 minutes

image source, Getty Images

Fears of a global economic recession are hitting the price of copper, a metal economists use as an indicator of global economic direction.

The fall in its price (close to 30% from its maximum in March) could “advance” what is to come in the future, because copper is used in so many industries that when its demand decreases, concern about a drop in global industrial activity.

Copper is an essential metal in the energy sector, transportation, electrical networks, telecommunications, construction, health and in all the technological devices that we use daily, such as cell phones and computers.

As this metal allows experts to make projections about industrial activity, it has been baptized as “Dr. Copper”.

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