The world copper market is expected to see a surplus of at least 345,000 tonnes in 2009, growing to around 400,000 tonnes in 2010, the International Copper Study Group (ICSG) said in a report on Tuesday. For full story, click here
According to data from the International Copper Study Group (ICSG), global consumption of refined copper exceeded supply by 54 000 t between January and July tin 2008. For full news, click here
WIth central banks cutting interest rates globally copper has narrowed its losses after having fallen more than seven percent with financial crisis concerns. The U.S. Federal Open Market Committee, the policy-setting arm of the U.S. Federal Reserve, cut benchmark lending rates by half a percentage point to 1.5 percent in an action coordinated with other central banks. [...]
Copper futures dropped almost three percent as investors cashed in on the recent high. Concerns about the US government’s bailout strategy as well as a firm dollar supported selling. Copper’s softer tone attributed to weakness in crude oil prices and a slight rebound in the U.S. dollar – traders. Uncertainty about the U.S. government’s $700 [...]
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