Copper Market News Directory

Mixed News for Copper on Drop to $6,652 per Tonne

Copper for delivery in three months on the London Metal Exchange fell 0.3 percent or $19.96 to $6,652 per tonne, according to Bloomberg Businessweek. Stockpiles of the metal are at their lowest since November 2012.

Copper Prices Fail to React to Chile Earthquakes

Bloomberg Businessweek reported today that Copper prices have dropped 0.7 percent on the LME since an 8.2 magnitude earthquake put Chilean mines in danger on April 1. Industry leaders will discuss falling prices for the metal at Cesco 2014, the industry's annual meetup taking place this week in Santiago. Talks will likely focus on Chinese stimulus efforts as well as the anticipated copper surplus for this year.

Antam-Freeport to Miss Deadline with Indonesian Copper Smelter

Reuters reported today that Freeport McMoRan Copper & Gold Inc and Indonesia's Aneka Tambang may not be ready with a joint copper smelter venture before Indonesia bans concentrate exports in 2017. This could cause dramatically reduced copper output in the future, as PT Smelting, currently the only copper smelter in Indonesia, is only capable of processing 20% of the national output of concentrate.

Chile Mines Unharmed after Recent Quake

Reuters reported that most Chilean mines seem to have held up well against a recent 8.2 magnitude earthquake in the mineral rich region. No damage was reported to the Collahuasi copper mine, and Coldeco, Antofagasta and Teck Resources all said that their mines were functioning well.