The price of copper is currently at a 10 year high.
This is a good thing.
Copper is primarily used in the production of industrial machinery and in electronics.
Given much of our world is runs on these machines, the price of copper tends to be a reliable indictor of economic health.
In this case, it shows manufacturers are buying raw materials, investing in production, and it’s a likely sign we’re heading towards a recovery.
Although indicators are not always accurate, they can give us a helpful directional view of what’s to come.
Let’s hope this indicator is right!