The United States' indecision regarding the continuation of its economic stimulus program is once again succeeding in pushing down copper prices. However, analysts seem unconcerned by the activity.
Articles Tagged "rio"
With Glencore International's takeover of Xstrata still up in the air, Codelco, Freeport-McMoRan, and BHP Billiton continue to be the world's top three copper producers. Producers expect copper prices to rise in coming months on expectations of a global economic rebound, and many will be increasing output.
Copper is a major source of revenue for Arizona, and a step forward in land rights legislation should further the state’s dominance in the red metal market.
Rio Tinto, currently in the news because of Chinese government claims of bribery of steel industry executives by some of its executives there, is looking at a lower half year profit, judging by the June quarter and first half output review released yesterday. For full story, click here
Asian shares ended mostly higher on Friday, led by a rally in Australian mining stocks after Rio Tinto declared a capital raising and a joint venture with BHP Billiton. For full story, click here
China will surging be forced to turn to the spot market to satisfy its appetite for copper following the failure of a controversial investment deal with Rio Tinto Plc, potentially boosting prices of the red metal. For full story, click here
Miner Rio Tinto has forecasted a risk that a strong rally in copper prices may reverse over the next six to nine months. For full story, click here
Contained copper production at Chile’s Escondida mine, the world’s largest, slumped 45 percent in the first quarter from a year ago to 156,400 tonnes, part owner Rio Tinto Ltd/Plc reported on Wednesday. For full story, click here
Rio Tinto reported that metals prices are unlikely to rebound during 2009 on account of a large stock and production capacity overhang despite an expected improvement in demand over the course of the year. For instance, London Metal Exchange copper prices more than halved, and have since been trading below US$4,000 a metric ton. The [...]
Rio Tinto Group puts proposed copper and nickel mine, Kennecott Eagle mine project, on hold due to bad economy. For more information, click here