In an exclusive interview with Copper Investing News, Adam Fleck Associate Director of Equity Research at Morningstar was more cautious in using this positive news flow to imply a broader trend, “The mining equipment sector is largely driven by mineral prices; high coal, copper, and iron prices typically drive increased mine expansion and construction, in turn leading to growing mining equipment orders.
If copper closes the year near its current price of around $9,200 per tonne on the London Metal Exchange, the metal will finish the year with an impressive 35 percent gain in only six months.
Copper commenced Tuesday in positive territory, extending Monday’s winning streak on the back of the longest run of inventory declines in over a year. Copper is ignoring overall market sentiment as lower than anticipated earnings reports from both Goldman Sachs and IBM wreaked havoc on the American and European stock markets.
By Leia Michele Toovey- Exclusive to Copper Investing News As economic malaise spread around the globe; silver and gold stocks became top performers. Worried investors flocked to both metals as a means to safe guard their investments as stocks, bonds and currencies became increasingly volatile. Copper investments were not appealing. Copper, fundamental to the transfer [...]
Copper prices lost half their value since reaching a record intraday level of $4.27 in May on the New York Mercantile Exchange’s Comex division. “Copper is usually a good gauge of economic health because it is broadly used, but more specifically because it is important to construction and equipment manufacturing that tend to precede [...]
Base metals fell as demand concerns offset firm equities. Industrial metals rose early on Friday but there is still a strong fear about recession. A strong close for U.S. equities on Thursday, with the Dow Jones industrial average .DJI up more than 4 percent, helped underpin stock markets in Europe and Asia. Read the [...]
Stocks in Japan plummeted the most in 21 years and saw copper fall in London for a second day. The Nikkei 225 index slumped 11 percent. The U.S. needs to accelerate steps to bail out financial institutions to help arrest plunging stock values, Japan’s Prime Minister Taro Aso said in Tokyo. Copper has dropped [...]
Copper could be pushed to its marginal cost of production due to low demand. While copper has held up very well compared to other metals during global market upheaval it may still drop further according to David WIlson, senior economist at Norilsk Nickel. Because the prices are above the marginal cost of production, there is [...]
Investors frozen by the recessionary chill saw copper drop to its lowest point since March 2006. Copper sank more than 9 percent. Copper looks to be the most exposed as sectors beyond the banking sectors are being impacted by negative demand reaction. Copper is now very close to $4,000, the average cost of production, according [...]
While waiting for news on the US financial bailout package copper has dropped another 2 percentage points. Copper prices caught in a spiral of U.S. dollar strength, spreading economic slowdown, and long liquidation – analysts. Read the article here. A strike at Xstrata’s Kidd operations will impact copper cathode production. The London Metal Exchange (LME) [...]
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