Stocks hit all time high - Copper lower but rebounds

On Tuesday, the Dow Jones closed at an all-time high seemingly indicating growing confidence in the economy. However, this goes directly in contrast with the implementation of the "sequester" which many economists have said could cause another severe economic downturn and, at the very least, erase everything that has been repaired in the last few years.

The impact on construction from the sequester is certain however.  Government projects will be cut and housing starts will likely slow.  The effect on the copper market could mean one of two things.  Either there could be a surplus of supply which would drive prices down, or production could slow with the decrease in demand and prices would remain relatively stable.  In recent months, the price of copper has seemingly established a floor of $3.50.  Every time it reaches that level, the price rebounds and settles at a point above that price.  As a result, for the time being, wire prices have remained somewhat stable allowing for predictable prices for the customer.