Copper is falling ahead of the release of April's US jobless data, with many analysts expecting weakness in the critical labor market. A new Indonesian mining tax, however, is expected to have limited impact on mining giants already operating in the country.
Codelco has taken legal action against Anglo American following the sale of a 24.5 percent stake in its Chilean operation to Japan's Mitsubishi, sparking tensions between Chile's global copper producers.
Greece's decision to call off a referendum about the bailout package has given a lift to copper prices, at least for now.
Copper took a tumble as Wednesday's EU finance ministers' meeting was canceled, renewing fears about the Eurozone debt crisis.
The first shipment of copper concentrates from Copper Mountain Mining’s (TSX:CUM) mine has made it to the Onahama port in Japan, a key milestone, for the first new copper mine to open in the Province of British since 1998.
Copper prices closed near nine-month lows on Wednesday, but rebounded on Thursday as concerns over the Eurozone’s debt crisis eased.
As 2011 kicked off, copper prices seemed unstoppable with the red metal continuing its upward trajectory from 2010
Fresh data suggesting that the US economy may hold up in the face of global economic uncertainty sent copper futures to a two-week high on Thursday.
With the end of the seasonal lull for copper just around the corner, traders are uncertain what direction prices will move come September, when demand typically rebounds.
The copper market has been rattled by an increase in worker uprisings, as employees are, once again, asking for increased wages and job stability as they see their companies raking in profits on the back of relatively high copper prices.
Get our independent commentary on copper trends and companies delivered to your inbox.
