Copper surged to its highest level in six months in New York futures trade Monday morning, as dipping inventory levels and signs of economic recovery in China, the world’s leading copper consumer. For full story, click here
Copper, the flagship base metal posing the ability to forecast the state of the economy in general and the metal markets in particular. But none of the other base metals have followed copper’s recent rally, and industry experts do not expect that it will have very long legs. Orest Wowkodaw, an analyst at Canaccord Adams, [...]
Chile’s No.1 global copper miner Codelco reported that it is still unclear whether U.S. demand for copper has hit bottom, adding Chinese consumption had not fallen. For full story, click here
Shanghai copper was steady on Wednesday, shrugging off a 2 percent fall in London prices the previous day, supported by signs of a recovery in Chinese consumption. For ful lstory, click here
Shares of copper mining companies rose this Wednesday as investors found some possible good news on account of expected Chinese economic stimulus package. Friedman Billings Ramsey analyst Luther Lu, said: With these stocks being so under pressure … you’re getting a nice bounce back. For full story, click here
Copper declined on Monday as more data showed a deepening global recession, but prices in Shanghai looked supported by hopes the Chinese government would keep buying metals to help local smelters ride out slumping demand. For full story, click here
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