Articles Tagged "Xstrata"

LME Copper Reverses Gains

London copper lost its 1.75 percent gain after the US Senate approved the $700 billion financial plan. Copper fell $12 to $6,148 a tonne.  Copper is up from its Wednesday low of $6,120, the lowest since March 2007. In base metals the market is looking very heavy … and there is a growing chance that [...]

US Copper Drops 2% at Open

While waiting for news on the US financial bailout package copper has dropped another 2 percentage points.  Copper prices caught in a spiral of U.S. dollar strength, spreading economic slowdown, and long liquidation – analysts. Read the article here. A strike at Xstrata’s Kidd operations will impact copper cathode production.  The London Metal Exchange (LME) [...]

Supply threats lend support to copper

By Leia Michele Toovey- Exclusive to Copper Investing News Wednesday was the first day in five sessions that U.S. copper futures ended up. The change in trend comes after a reduced production outlook from a top producer and an earthquake in northern Chile re-ignited some fears of a shortfall in supply. The price of copper [...]

Xstrata Lifts Stake, Indophil Shares Dive

Xstrata Pic, the Anglo-Swiss mining group, announced that they would be increasing their stake in Indophil Resources NL by just under 20 percent at 17.8 percent.  Indophil’s shares dropped due to lack of confidence in a competing bid. Xstrata, which had been in a bidding war for Indophil, said it bought a 17.8 percent stake [...]

Copper Slowly Rebounds from Six Month Low

By Leia Michele Toovey – Exclusive to Copper Investing News On Tuesday, liquidation pushed copper to a six- month low to below $3.40 per lb in the New York Futures COMEX division trade. The end of market announcement of the Federal Reserve decision to keep interest rates steady at 2 per cent helped copper gain some. But analysts [...]