Copper Ends Down Near 2011 Low on Slowdown Fears

Reuters reported that copper plunged to 2 percent of its 2011 low due to poor U.S. data and Europe’s escalating debt crisis.

The market news is quoted as saying:

Growth in U.S. retail sales stalled in August after a spending battle in Congress crushed consumer sentiment, leaving the world’s largest economy perched uncomfortably close to recession.

John Gross, president of J.E. Gross and Co, a consultancy to the metals industry, said,

“This European debt situation is going to get a hell of a lot worse before it gets any better,”

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