Copper futures rebounded Tuesday, as better-than-expected Chinese industrial production and US retail sales data boosted the red metal’s demand prospects.
Induced polarization (IP) surveys are a valuable tool for base-metals and gold exploration. A junior exploration company can effectively narrow down drill targets on a vast exploration property with a well-planned IP program, and an already operating miner can locate more metal deposits in the area by conducting an IP survey.
Copper plummeted the most in three months, Tuesday, over concern that surging oil costs would stall economic growth and dampen demand for the industrial red metal.
Copper dropped from record highs in New York and London over concerns that lofty prices would dampen demand, and inflationary pressures in China would encourage the country to undertake aggressive monetary tightening, resulting in a decrease in the country’s demand for base metals.
Copper climbed to a slightly higher finish Tuesday, recovering from its early day losses due to China’s surprise interest rate hike.
Agmetalminer.com reports that copper is more consistent than for other base metals.
Iberian Minerals Corp. (CVE:IZN) announces financial and operating results for the third quarter ended September 30, 2010.
Augusta Resource Corporation (TSE:AZC,AMEX:AZC) announces that the Environment Impact Statement contractor SWCA of Tucson, Arizona has delivered yesterday.
Bloomberg reports that Copper will lead a rally in base metals into 2011.
Reuters reports that on Wednesday, Goldman Sachs and BlackRock, has declined to comment on market talk that they were planning a copper exchange-traded product.
Tuesday, June 14, 2011