India copper futures have edged lower on Tuesday on profit-taking after gaining 5 percent in the previous session. Vibhu Ratandhara, an analyst with Bonanza Commodity Services, stated: Traders are booking profit after yesterday’s rally. For full story, click here
India copper futures turned lower on Monday evening on profit-taking triggerred by expectations that U.S. equity markets would dip, after the red metal surged about 7 percent in the previous three sessions. Gnansekar Thiagarajan, director with Commtrendz Research in Mumbai, stated: There will be profit-taking as copper had risen substantially last week. For full story, [...]
Jiangxi Copper is principally engaged in the production, processing and sale of cathode copper reported that its profits for the year 2008, went down by 49.6%. For full story, click here
India’s copper futures eased on Tuesday on profit-taking after climbing about 5 percent in the previous five sessions. Navneet Damani, an analyst with Anand Ratihi Commodities in Mumbai, said: Copper is in corrective mode and may touch 197 rupees later in the session. For full story, click here
The Corporación Nacional del Cobre de Chile, Codelco reported that it has obtained a pre-tax profit of US$ 4.968 billion during 2008, with $104 million of that in the last quarter of the year, while the international crisis hurt prices for copper and other company products. For full story, click here
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
With the dropping of export tariffs on copper and nickel, Norilsk expects its operating profit to be $1.6 billion to $1.8 billion [in 2009]. For full story, click here
By Leia Michele Toovey- Exclusive to Copper Investing News Copper prices fell to the lowest in almost four years on concern that the deepening global recession will reduce metal demand through next year. Copper prices have plunged 55 per cent this year, heading for a record annual decline. Copper futures for March delivery slipped 0.4 [...]
Copper futures reversed early gains and fell on profit-booking as gloom returned to the markets and worries over dwindling demand heightened, analysts said. 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
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