From The Growth Stock Wire:

After nearly two years above $2.50 per pound, the price of copper fell 66% in three months. That's an incredible decline. The price hit a low around $1.20 per pound, which it hadn't seen since early 2004.

You might think that's a bottom, but the amount of copper stored in warehouses, as reported by the London Metal Exchange, is the highest it's been in five years.

If a global recession continues to hurt demand, you could see the copper supply continue to rise. As you can see from the chart, rising supply corresponds with falling prices. Supplies could get a lot higher from here... and copper prices could go much lower.

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