Copper Futures (Daily) in 2015
Copper Futures (Daily) opened 2015 at $2.84 and closed at $2.13, a -25.12% move for the year. The high of $2.95 was reached on May 12, and the low of $2.02 on November 23.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $2.84 | $2.53 | $2.84 | $2.47 | -10.94% |
| Feb | $2.51 | $2.72 | $2.72 | $2.51 | +8.16% |
| Mar | $2.71 | $2.75 | $2.82 | $2.59 | +1.33% |
| Apr | $2.76 | $2.89 | $2.89 | $2.67 | +4.72% |
| May | $2.93 | $2.76 | $2.95 | $2.76 | -5.87% |
| Jun | $2.74 | $2.62 | $2.77 | $2.59 | -4.29% |
| Jul | $2.64 | $2.37 | $2.64 | $2.35 | -10.17% |
| Aug | $2.35 | $2.34 | $2.41 | $2.25 | -0.40% |
| Sep | $2.3 | $2.35 | $2.46 | $2.25 | +1.87% |
| Oct | $2.31 | $2.31 | $2.43 | $2.31 | +0.26% |
| Nov | $2.32 | $2.04 | $2.33 | $2.02 | -11.70% |
| Dec | $2.07 | $2.13 | $2.14 | $2.03 | +2.86% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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