As the world struggled with an economic downturn through late 2007 and the first half of 2008, things in the copper market continued to look bright. Then, in August, prices fell significantly, with the LME three-month average contract hitting a six-month low of 3.35 dollars by the middle of the month, down from around 4 dollars in early July. Was that a sign that copper's astonishing run of average annual growth, which began in 2003, is coming to an end? Or was it a brief tremor in a market whose fundamentals point to continued high prices for the next several years?
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