copper price, page-11

I read this somewhere else on HC

Copper is poised for the biggest annual decline ever after demand by manufacturers, automakers and builders plunged. General Motors Corp., Ford Motor Co. and Chrysler LLC will shutter about 59 factories over the next month amid the lowest sales in 26 years.

Copper may fall below $1 in 2009, Gross said. The last time copper traded at that level was in December 2003.

“Demand will be down substantially,” Gross said. “It’s very realistic that we could go back 50 cents and be near those levels. We’ve already come down so far so fast. At this rate, it won’t take long to approach those lows.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFUWKJ9i5jfE