Europe’s largest copper miner KGHM expects its 2009 net profit dip to 488 million zlotys ($134 million) from the expected 2.9 billion in 2008, as lower copper and rising costs bite. For more information, click here
Shanghai copper futures closed down 90 yuan at 23,710 yuan ($3,468) a tonne, after falling by their 4 per cent limit. For full story, click here
London Metal Exchange copper fell by 2.4 percent on Tuesday, giving up some of the overnight gains that together with a surge in Asian share prices had helped Shanghai copper futures rise by their 4 percent daily limit. For full story, click here
Shanghai metal plunged 5 percent to its weakest in four years on growing fears about demand. for full story, click here
UBS downgraded Quadra Mining to “sell” from “neutral” after it posted a lower Q3 profit as weaker copper prices reduced revenue and prompted it to stop two development projects and suspend output forecasts beyond this year. For full story, click here
Copper was down nearly 9 % as inventories were up and the US dollar weighed after the US election. Charles Cooper, mining analyst at Evolution Securities, said: By and large it’s going to be dollar driven. We’re seeing the copper price and some of the other metal prices following that trend. We’re facing a global [...]
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