What does Dr Copper mean?
Copper is often referred to as “Dr. Copper” for its unique ability to forecast economic trends. Historically, Copper has been considered a barometer of the overall state of global economic activity as its high thermal and electrical conductivity has multi-purpose industrial applications. It has $60 billion futures market.
Futures Knowledge Explains Dr Copper
There is a close correlation between copper price and global economic conditions. The 2008 crisis had pulled down copper prices to $1.5/lb from $4/lb. The US and the China are biggest consumers of copper, a base metal. With the revival of the US economy, copper prices hit all-time high of above $4.5/lb in early 2011. But as the Chinese economy started slowing down, the 'Dr. Copper' started downward journey pushing prices below $2.5 in early 2015.