Commodity market prices often forecast retail prices six to nine months in advance, since it usually takes that long for the rise or fall in wholesale prices to be passed on. Last week the commodity markets showed a distinct downtrend. Copper, at a 90-year peak of 46 a lb. only last March, slumped to 34¢, was expected to drop still further. No. 2 copper scrap, also a March record-breaker when it hit 45.5¢, fell 20¢ to the lowest price in some two years as copper production outpaced demand.

The sag was general from Chicago to Singapore, hit everything from...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!