Copper cracks under pressure, euro on defensive

Reuters ^ | Tue, Jan 13, 2015, 11:08pm EST | Wayne Cole

[ryan71]

SYDNEY (Reuters) - Concerns about the global economy battered commodities and kept Asian equities subdued on Wednesday, while the euro was pinned near nine-year lows as investors bet the European Central Bank was just a week away from launching a new stimulus campaign.

Copper futures suddenly plunged 6.3 percent to $5,489 a tonne as major chart support cracked. The industrial metal is often considered a weathervane of world demand.

Not helping the mood was news that the World Bank had cut its 2015 global growth forecasts to 3 percent from 3.4 percent because of sluggishness in the euro zone, Japan and some major emerging economies.

"The global economy is at a disconcerting juncture," World Bank chief economist Kaushik Basu told reporters. "It is as challenging a moment as it gets for economic forecasting."

[glorgau]

Too late, somebody already stripped the copper out of my last house.

[Cry if I Wanna]

Too late, somebody already stripped the copper out of my last house.

LOL! I bought an old fixer as a rental and before it closed somebody stole the pipes in the crawlspace. It was galvanized steel! My plan was to replace it with copper, which I ultimately did. Some poor idiot showed up at a recycling yard with the pipes and was laughed at because it was iron junk!

[dennisw]

Euro is at 1.1788 ....last time I looked two weeks ago it was at 1.24

Quite a slide downward

[Organic Panic]

I will be stocking up. I have been hammered the last couple years buying metals for my machine shop.

[Bon mots]

We should all use copper for doorknobs.
We would have so many fewer cases of the flu.

Copper is a hostile environment for germs; stainless steel and aluminum are favorable environments.

Germs do not live long on copper; they can live for months on stainless steel.

http://en.wikipedia.org/wiki/Antimicrobial_properties_of_copper

[Bon mots]

Re: My previous post.

We would have so many fewer cases of the flu.

My bad.
The flu is viral, no evidence w/regard to anti-viral properties... but anti-bacterial properties have been known for centuries.

[grania]

Thanks for that information. I have an offbeat question. Are some metals better than other for jewelry, in terms of not holding germs? How is gold with germs?

[George from New England]

So where in the world do I go to get ANY break on copper wire purchases?

[mad_as_he$$]

Copper door knobs? The methheads would have them all stolen overnight.

[reed13k]

You can do the polishing... no greenish hues allowed.

[Bon mots]

Thanks for that information. I have an offbeat question. Are some metals better than other for jewelry, in terms of not holding germs? How is gold with germs?

I am far from an expert on the subject, I just happen to have recently read an article on that.
From what I read, silver is very good; then copper. Stainless steel is horrible and keeps germs alive for a long time.

Follow my link to the article on Wikipedia - it might lead to more info: Oligodynamic Effect

The oligodynamic effect (Greek: oligos = few, Greek: dynamis = force) was discovered in 1893 by the Swiss Karl Wilhelm von Nägeli as a toxic effect of metal ions on viruses and living cells e.g. algae, molds, spores, fungi, prokaryotic and eukaryotic microorganisms, even in relatively low concentrations.[1] This antimicrobial effect is shown by ions of mercury, silver, copper, iron, lead, zinc, bismuth, gold, aluminium, and other metals.

[grania]

Thank you.

[Bon mots]

This antimicrobial effect is shown by ions of

• mercury, - Poisonous
• silver,
• copper,
• iron,
• lead, - Poisonous
• zinc,
• bismuth, - Kidney damage
• gold,
• aluminium, - Possible alzheimer's connection..., osteopenia, kidney, blood-brain barrier issues...