Copper Market News Directory

Copper Price Hits $6,095 Per Tonne

Copper prices remained relatively stable on the LME Tuesday, and rose 0.5 percent to $6,095 a tonne while investors awaited further information from the Federal Reserve meeting slated to begin today that could yield more news about a potential interest rate hike, Bloomberg reported.

Copper Price Dips 0.5 Percent on the LME

Copper on the London Metal Exchange fell 0.5 percent to $5,950 a tonne, as noted by Reuters. The dip follows a previous session of four-week highs as demand from China showed signs of easing. The slowing demand points to signs of potential decreases in the rate of construction.

Potential for M&A Rising in the Copper Space

A report from Bloomberg suggested that falling mine grades, a scarcity of new deposits and high costs to develop projects amidst low prices could spark M&A activity in the copper space. Prices have fallen roughly 17 percent in the past two years, helping to make some producers more affordable.

CRU Doesn’t See a Swift Recovery for Copper Prices

CRU director of copper research and strategy, Vanessa Davidson, suggested that the worse could be over for copper prices, but also stated at the recent CRU copper conference that the metal is unlikely to see a swift recovery, Reuters reported. In spite of recent supply troubles and slightly more optimistic price outlooks from some analyst firms, CRU sees the market heading into surplus next year.

Copper Falls to $5,918 a Tonne

Copper on the LME dipped to $5,918 a tonne for a 0.45 percent drop following reports of slowing GDP growth in China, the metal's biggest consumer, according to Reuters.

Copper Price Falls to $5,940 a Tonne

Copper on the LME was down 0.8 percent on Tuesday and hit $5,940 a tonne, according to Reuters. Investors moved away from the metal ahead of China releasing economic growth data.

Zambia to Drop Mining Royalty Increase

The Wall Street Journal reported that Zambia's cabinet has approved a proposal that would see a recent hike in mining royalties dropped. Announced last October, the new royalty rules required companies to pay a 20 percent royalty on open pit mining operations, up from 6 percent, while royalties for underground mines would rise from 6 percent to 8 percent.