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.
Copper future rallied on mounting concerns that demand will outpace global supplies by as much as 600,000 tonnes in 2011.
Lundin Mining Corporation (TSE:LUN) announces that the government of the Democratic Republic of Congo and Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) have announced the successful conclusion of the review of Tenke Fungurume Mining's contracts.
By Leia Michele Toovey- Exclusive to Copper Investing News Wednesday was the first day in five sessions that U.S. copper futures ended up. The change in trend comes after a reduced production outlook from a top producer and an earthquake in northern Chile re-ignited some fears of a shortfall in supply. The price of copper [...]
By Leia Michele Toovey – Exclusive to Copper Investing News Copper moved up early week, influenced by a change in the metal’s supply/demand balance. Tuesday’s NYSE copper session prices spanned from $3.6595 to $3.7450/ lb, the contract’s highest level since July 15. By Wednesday noon, copper hit a high of $3.850/ lb. In India, on [...]
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