tough week for copper 1:16 pm: ‘Dr. Copper’ heads for first 7-day slide since October 2018
Concerns about the global economy may be on the rise, if copper prices are any indication. The industrial metal fell to its lowest level since early December. It was also headed for its first seven-day losing streak since Oct. 31, 2018. Copper, often referred to by traders as “Dr. Copper,” is a widely used indicator for the state of the global economy given how widely used the metal is. Sentiment across markets dampened Friday amid worries over the spread of the deadly coronavirus. Copper was also down nearly 6%, its biggest one-week drop since late November 2014. —Imbert, Francolla