Copper Dropped 0.3 % on Speculation Over Possible Greek Exit
Reuters Africa reported that copper dropped 0.3 % on speculation over possible Greek exit from the Euro zone.
Copper Market News Directory
Copper Surged 1%
CNBC reported that copper surged 1% to end at $7,610 a metric ton.
Global Refined Copper Market in 110,000 Tonne Deficit
Reuters reported that according to the International Copper Study Group, the worldwide refined copper market was in a 110,000 tonne deficit in February 2012.
Copper Fell 1.4 Percent
Bloomberg reported that copper fell 1.4 percent on speculation that Greece may quit the euro region.
Codelco’s First Quarter Output Fell 10 Percent
Reuters reported that Codelco's first quarter output fell 10 percent.
Xstrata: Copper Demand Will Rise in the Second Half of 2012
CNBC reported that according to Xstrata (LSE:XTA), the sluggish copper demand in China will boost copper demand in the second half of 2012.
Copper Steadied at $7,816 a Metric Ton
Reuters reported that copper steadied at $7,816 a metric ton on reports of China's infrastructure growth plan.
Size of Chinese Copper Stockpiles Not Promising
Reuters reported that China's metals warehouses are so full that copper is being stockpiled in car parks, a bad sign for global metals prices and an indication that China's growth may not continue.
Chile’s Codelco Faces Mine Protests
Bloomberg reported that Chilean copper mines owned by Chile's Codelco have faced protests regarding job security. The Collahuasi mine, owned by Anglo American plc (LSE:AAL) and Xstrata plc (LSE:XTA) and also located in Chile, has been unaffected.
Freeport-McMoRan CEO Concerned About Grasberg Mine
Reuters reported that Richard Adkerson, President and CEO of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), is worried about violence at the company's Grasberg mine in Indonesia, but is unconcerned about the government's plan to renegotiate mining contracts.
