'Dr. Copper' misdiagnoses the global economy

Market for bellwether metal too bullish for some to believe

20200721 copper plant in Nantong city

Copper prices are said to reflect the health of the global economy, as the metal is used in a vast range of industries. But today's high prices may be caused by a mirage. © AP

TOMIO SHIDA, Nikkei senior staff writer

TOKYO -- International copper prices are rapidly recovering, with three-month futures on the benchmark London Metal Exchange hitting a two-year high of $6,633 per metric ton on July 13.

Copper prices often reflect the health of the global economy, hence the moniker "Dr. Copper."

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