For those of you that follow the copper market, I am certain you have noticed the dramatic move to higher prices that started in late October. As you can see from the 1-year chart below, copper had trended in a band all year long between essentially $2.10 and $2.30, yet has spiked $0.65/lb. higher. This is about 31% higher since the last bottom at $2.10. Clearly, this is a strong move over a relatively short period of time, and it has happened during a period absent of any overwhelmingly strong economic news around the world.