Plastics are being used instead of copper tube, aluminum is replacing copper conductors, steel/tin, plastics and glass are being used instead of aluminum packaging and plastics and different types of coated steel are being used instead of galvanized steel.

The threat of supply disruptions has reminded investors just how tight the copper market is, even though stocks may have risen in recent months.

The reversal...puts copper prices right back into the earlier consolidation zone, which undoes much of the rebound from last week.

If the outlook does deteriorate then the prospects for a correction in copper increases.