Thanks to its profitable mining giants, Australia has been able to thwart much of the pain that has plagued other governments worldwide. Looking ahead, though, mining groups are increasingly wary of investing too much too fast in mega-projects, and a slowdown in developing major copper mines may be on the horizon.
Copper is a major source of revenue for Arizona, and a step forward in land rights legislation should further the state’s dominance in the red metal market.
Copper futures declined Tuesday morning, back-tracking from Monday’s gains as traders were skeptical over the state of the economic recovery. On the COMEX, March copper tumbled 2.3 percent, to $4.25 a pound. Copper ended up for a second consecutive day on Monday, as market sentiment focused on dwindling copper stockpiles.
Copper future rallied on mounting concerns that demand will outpace global supplies by as much as 600,000 tonnes in 2011.
Copper prices rose to record territory Tuesday, as a weak greenback boosted international investor’s demand.
By Kishori Krishnan Exclusive To Copper Investing News Copper prices are heading for the first monthly decline this year. On Monday, copper fell in New York to the lowest price in more than five weeks, as an increase in inventory sparked mounting concern that demand is dwindling. Stockpiles in warehouses monitored by the London Metal [...]
The top mining port in Chile, Antofagasta, has workers striking for a second day in a row. Demands for higher pay and better working conditions are the reasons behind the strike. Workers started their strike at Antofagasta, which serves Chile’s northern mining region, just before midnight on Tuesday, leaving at least one copper shipment delayed [...]
By Leia Michele Toovey- Exclusive to Copper Investing News On Monday, copper lead gains in metals traded on the London Metal Exchange (LME) as the greenback retreated from its recent stronghold. The dollar’s recent run to new highs against the euro has extended losses for the metals; the recent pullback is getting people back in [...]
BHP Billiton has reached a seventh consecutive profit at $15.4 billion, which is partially due to its annual production records in copper. The company attributes the earnings to high prices and growing demand from emerging economies, posting annual production records in sectors including petroleum, copper, iron ore and manganese ore. Read the complete report here.
By Leia Michele Toovey- Exclusive to Copper Investing News Copper prices continued to be on an upswing on Monday, following last week’s selling spree. You may recall that last Wednesday, the red metal had plunged to a six-month low as investors’ economic concern had initiated a rapid sell off of the metal. The low was [...]
Get our independent commentary on copper trends and companies delivered to your inbox.
