When copper briefly plunged to under $2 per pound earlier this week it sent shudders through the copper market. The price is back up to around $2.89 per pound today, but the drop is just one more example of the wild and wacky price swings with the red metal.
Copper Investing News does a great job covering the copper game and in this Dec. 30 article, copper expert Stefan Ioannou of Hayward Securities says he expects prices to “moderate between $3 and $3.25 per pound for 2015.”
He also said:
"Even at $3 per pound copper, basically everyone in production is making money. Even the highest-cost copper producers are producing copper at $2.50, $2.60 per pound,” said Ioannou. “The copper price could arguably dip below $2.75 per pound, and you wouldn’t see a major impact on current demand fundamentals.”