Copper, Zinc Lead Industrial Metal Slump on China Demand Concern
Bloomberg reports that Copper prices fell the most in four months on concern that China will act to slow its economy, eroding demand for metals.
Articles Tagged "slump"
Hindustan Copper Q1 Net Plunged 99.41%
Hindustan Copper Ltd has declared that its net profit has witnessed a huge slump of 99.41% during the quarter ended June 2009. For full story, click here
Copper slipped in Asia amidst renewed concern about economy
Copper slipped in Asia as some investors deemed the recent climb to a five-month high as excessive amid the renewed concern about financial slump. For full story, click here
Philippines' Copper Mining Industry hit by financial slump
Mining companies in the Philippines are laying off staff, delaying some projects and scrambling for cash as the global crisis financial drags down commodities prices, industry officials say. With copper prices sinking, even the largest Philippine mining firm, Philix, has become more a gold mine than a copper mine. For full story, click here
Global slump cuts 8,200 mining jobs in Zambia
About 8,200 mining jobs in Zambia have been cut since December as the global financial crisis sends copper prices down, hitting Zambia’s lead exports. Rayford Mbulu, president of the Mineworkers’ Union of Zambia, stated: This number includes those that work for the mines and some who work for companies that are directly linked to the mines. For [...]
Copper sales slumped 61% at Newmont
Copper sales slumped 61% as sharply falling prices more than offset a 17% increase in output. For full story, click here
Copper’s New Year ascent short-lived
By Leia Michele Toovey- Exclusive to Copper Investing News U.S. copper futures were able to hold on to their positive momentum until Thursday’s close, when consistent inventory builds and grim economic data suggested that demand will exert more downside pressure. Copper started the New Year with a bang, but the positive movement was cut short [...]
Southern Copper Doesn’t Plan Cuts on Price Slump
The company said said it doesn’t plan to cut output or fire workers because prices would need to fall by a further 46 percent for the company’s mines to lose money. For full story, click here
Copper suffers new slump
Copper closed with a 3.80% loss today at the LME after trading for US$ 1.62409 per pound of “grade A” material, compared to US$ 1.68827 on Friday and US$ 1.62885. For full story, click here
Copper slumped in London as dollar rebounds
Copper slumped in London as the dollar rebounded, diminishing the appeal of the metal as an alternative investment, For full story, clik here
