By Leia Michele Toovey- Exclusive to Copper Investing News With little relief in sight when it comes to the global economic crisis, analysts are expecting further downside for copper. So far this year, COMEX copper prices are down nearly 60 per cent since their record high above $4.00 a lb in July. It is anticipated [...]
Continue reading "How low can copper go?"
Thursday, October 16, 2008
By Leia Michele Toovey- Exclusive to Copper Investing News After the week started on a good note, on Wednesday a Fed warning that the U.S. economy still faces significant threats and bleak U.S economic data led Wall Street to its worst day since the 1987 stock market crash. Copper dropped as much as 8 per [...]
Continue reading "Poor economic data causes copper crash"
Wednesday, October 15, 2008
The world’s largest copper producer, Codelco, anticipates a profit drop as copper prices fall. Results for the first half of 2008 were down 12 percent from the first half of 2007 – $4.108 billion to $4.669 billion. Citing what it called a provisional and unofficial 2009 Business and Development Plan (PND 2009) by the state [...]
Continue reading "Chile's Codelco Copper Price to Drop"
Wednesday, October 15, 2008
Copper dropped over 5 percent as concerns about copper demand remain strong. Expectations of weaker global demand for metals were reinforced after the world’s largest copper producer Codelco said the premium for refined copper in Europe will be lower around $80 a tonne in 2009. Read the article here.
Continue reading "Copper Eases on Economic Fears"
Monday, October 13, 2008
By Leia Michele Toovey- Exclusive to Copper Investing News Monday Oct 13 2008 is a day that will go down in history. This day, which was also Canadian Thanksgiving, and Columbus Day in the US, was the first day in a long time that the markets gained significant upward momentum. Oct 13 was a record [...]
Continue reading "Copper joins stock market rally"
Friday, October 10, 2008
Record high prices for sulphuric acid, which is used in the production of copper and extraction, are impacting margins. Chile, the world’s largest copper producer, is likely in the next few days to set this year’s global benchmark prices for sulphuric acid and analysts say they may double. Find the complete article here. 2007 saw [...]
Continue reading "Acid Prices Add Pressure to Copper"
Friday, October 10, 2008
By Leia Michele Toovey- Exclusive to Copper Investing News It has been a volatile week for copper prices. On Wednesday, copper tumbled to its lowest price since March 2006 over concern of a global recession. Three-month copper on the London Metal Exchange (LME) closed at US$5,240 per tonne. Later on Wednesday, the U.S. Federal Reserve, European [...]
Continue reading "Copper's wild ride"
Friday, September 26, 2008
By Leia Michele Toovey- Exclusive to Copper Investing News Copper sat in relative limbo as investors focussed on the government’s proposed financial bailout plan. On India’s Multi Commodity Exchange, the MCX, futures were steady with an upside bias as a week dollar and rising crude extended support. The upside, however, was capped by bailout uncertainties. Thursday’s benchmark November [...]
Continue reading "Copper in limbo over government bailout"
Thursday, September 4, 2008
By Leia Michele Toovey- Exclusive to Copper Investing News U.S. copper futures ended positive on Wednesday as bargain hunters took advantage of lower prices following declines in the red metal triggered by a strengthening U.S. currency. The dollar surged to its highest level against the euro since January amid growing expectations that the American economy [...]
Continue reading "Short position purchases help recoup copper"
Tuesday, September 2, 2008
RIo Tinto and CODELCO‘s fully owned subsidiary, CCM Los Andes, have entered into two joint venture agreements so as to search for copper in Chile. Based on their stand alone investments of US$20 million per project Rio Tinto has 55 percent interest in each of the ventures with an option to increase to 60 percent. [...]
Continue reading "Rio Tinto Copper Exploration"
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Friday, November 14, 2008