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, [...]
Zambia, Africa’s biggest copper producer, is in talks with the International Monetary Fund for loans of about $200 million to help boost its foreign currency reserves after prices for the metal dipped. Zambia’s central bank Governor, Caleb Fundanga, stated: Our balance of payments position has deteriorated quite considerably. For full story, click here
In anticipation of higher prices and demand when the economy recovers, South Korea, Asia’s third-largest base metal buyer, reported its plans to boost its strategic copper reserves by 46 percent this year. Kwon Tae-kyun, administrator of state-run Public Procurement Services, said: This year offers the best opportunity to achieve value for money in stockpiling. We [...]
Get our independent commentary on copper trends and companies delivered to your inbox.
