Copper prices recovered Tuesday, as investors were drawn back into the copper market as investment powerhouse Goldman Sachs (NYSE:GS) reported that current copper prices offer "an attractive opportunity" to establish long positions.
Barrick Gold Corp. will purchase of copper producer Equinox Minerals for $7.7 billion, 17 percent more than Equinox’s average share price over the last 20 days of trading. Copper is the only non-gold metal where Barrick desires significant expansion, a clear indication that that the copper market is poised for some impressive gains.
Copper rose to a record on Tuesday after a gain in China’s imports of the metal increased the demand outlook, amid supply disruptions in top-producer Chile.
An onslaught of negative data hit the copper market Tuesday sending the red metal down in early trading.
Katanga Mining Limited (TSE:KAT) announces the release of its 2010 third quarter results on Thursday, November 4, 2010.
Copper fell to a nine-week low in both London and New York Monday as pessimistic manufacturing data out of China reminded the globe how critical the country’s economy is to the entire base metals complex.
In early trade Tuesday, better than expected US home data buoyed copper on the COMEX after dipping for four straight sessions. But, the ascent was just a blip with the upside being limited by a lack of positive economic indicators.
Copper earned topped honours as the best performing investment for 2009, and the metal extended its ascent into the new year, reaching a 16-month high on Monday. The New Year’s run was fuelled by a looming strike at the Chuquicamata mine in Chile.
By Leia Michele Toovey- Exclusive to Copper Investing News Copper prices have enjoyed an 80 per cent rally this year- on the back of Chinese State Reserve Bureau (SRB) purchases. Now, signs are pointing to the finality of those purchases. Inventories monitored by the London Metal Exchange posted their first back-to-back weekly gains since February, [...]
By Leia Michele Toovey- Exclusive to Copper Investing News U.S. copper futures ended lower on Tuesday, after touching nine month highs earlier in the session, as copper climbed for a third day on speculation that the global economy is well on its way to a recovery. The index of leading indicators in the U.S., the [...]
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