Copper Futures Down on Slowing Global Manufacturing
Copper futures closed down on Thursday as data pointing toward slowing manufacturing growth put the growth-sensitive red metal under pressure.
Copper futures closed down on Thursday as data pointing toward slowing manufacturing growth put the growth-sensitive red metal under pressure.
Copper futures were volatile on Tuesday, but closed higher for the second-straight day as better-than-expected US consumer confidence data and a relative calm tone in the European markets overshadowed a disappointing home sales data.
The Eurozone's woes continue to keep copper prices down, but optimism prevails as many analysts see global demand rising over the next year.
A strike at Freeport McMoRan's Grasberg project in Indonesia has impacted the company's copper output and aided in tightening the copper supply chain as a whole, positioning copper for a price rally.
Yellowhead Mining (TSXV:YMI) reported the findings of its recently completed comminution and flotation testwork to support engineering design for the feasibility study on its Harper Creek copper-gold-silver project, BC.
CMC Metals Ltd. (TSXV:CMB) announced the assay average for the high grade direct ship ore that is prepared and ready for shipping.
Geologix Explorations Inc. (TSX:GIX,FWB:GF6) announced initial results from the current resource expansion and infill drilling programs at its Tepal property in Michoacán state, Mexico.
Yellowhead Mining Inc. (TSXV:YMI) announced that the British Columbia Environmental Assessment Office has approved the Application Information Requirements for its Harper Creek copper-gold-silver project.
Nevada Copper Corp. (TSX:NCU) announced additional positive step-out drill results from its Pumpkin Hollow property located in Nevada.
Red Metal Resources Ltd. (OTCBB:RMES) announced returned assay results of reconnaissance samples taken at its Mateo property.
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