By Leia Michele Toovey- Exclusive to Copper Investing News Data released Thursday showing a further deterioration in the manufacturing sector snapped copper’s positive trend. Copper for March delivery shed 3.10 cents to close at $1.50 a lb on the New York Mercantile Exchange’s COMEX division. COMEX copper had gained nearly 7 per cent during the [...]
By Leia Michele Toovey- Exclusive to Copper Investing News Copper futures started the year on a note of optimism. On January 3, the first day of trading in 2009, copper peaked at US$1.6225, the contract’s highest point since December 2 2008. Copper was just one of the base metals to rally as a result of [...]
By Leia Michele Toovey- Exclusive to Copper Investing News With copper prices considered a barometer of economic growth, it is no surprise that the metal is having a rough go. Japan and Germany are in a full-fledged recession, and China and the U.S. are in bear markets teetering on the brink. The metal has lost [...]
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 [...]
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 [...]
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 [...]
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.
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 [...]
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 [...]
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 [...]
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