Sep
26
Copper to remain uninspiring, range-bound in short term
September 26, 2011 | Leave a Comment
Copper, the bellwether for all base metals, is sensitive to the changes in world economic outlook. No surprise, then, that this growth-sensitive commodity sank to its lowest in 10 months, triggered by the US Fed missive on the economy’s downward risk, debt concerns in Greece, Spain and now Italy, slowing industrial output in the euro [...]
Sep
19
Some workers return to Freeport Indonesia copper mine
September 19, 2011 | Leave a Comment
Strike over pay still ongoing, output not at maximum * Returning workers are contractors, union says * Workers say any output cannot be shipped due to strike * Copper prices at lowest this year (Adds company memo, port comment) By Rieka Rahadiana JAKARTA, Sept 19 (Reuters) – More than a thousand workers have returned to [...]
Sep
19
Copper Sinks to 9-Month Low as Euro Worries Mount
September 19, 2011 | Leave a Comment
NEW YORK—Copper futures slumped to their lowest levels in more than nine months on worries that Europe’s widening debt crisis would deepen the global economic slowdown and slash demand for metals. Prices for the industrial metal had held firm in recent weeks despite fears that Europe’s banks may be sliding toward a credit crunch. But [...]
Sep
19
Copper hovers around its year-low
September 19, 2011 | Leave a Comment
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/2a635288-e2a5-11e0-897a-00144feabdc0.html#ixzz1YQ2AxQLZ Commodities markets were hit by European economic growth worries on Monday amid the eurozone’s debt crisis [...]
Sep
11
‘Scrap iron industry stunted by Govt’
September 11, 2011 | Leave a Comment
Allan Ferguson, chairman of the Trinidad and Tobago Scrap Iron Dealers Association (TTSIDA), says the industry is responsible for 37 per cent of the containers that leave the Port of Port of Spain every month. Ferguson said this represented over 700 containers and a value of hundreds of thousands of dollars in business on which [...]
Sep
11
Orlando-area metal thieves target power poles, street signs, AC units
September 11, 2011 | Leave a Comment
Police officers in Lakeland followed two nervous men in July and discovered they had more than $1,000 worth of copper wire in their vehicle — all stolen from 10 nearby utility poles. That incident was just the latest in a category of crimes increasingly coming to the attention of law enforcement: Central Florida thieves are [...]
Sep
11
Lawmakers dueling over proposed Alaska gold mine
September 11, 2011 | Leave a Comment
WASHINGTON — In a high-stakes battle that pits gold and copper against fish, members of Congress are scrapping over a plan to build one of the world’s largest open pit mines in southwest Alaska. Fearing that toxic wastes from the mine could hurt the wild salmon population in her home state, Washington state Democratic Sen. [...]
Sep
11
China Aug commodity imports shows economy resilient
September 11, 2011 | Leave a Comment
SHANGHAI (Reuters) – China’s key commodity imports, including crude oil, copper and iron ore, all climbed in August from the previous month, adding to evidence that demand in world’s second-largest economy was still going strong despite the economic turmoil in the West. The wave of buying of oil and industrial commodities suggests that Chinese companies [...]
Sep
11
First Quantum lines up USD 1 billion in financing
September 11, 2011 | Leave a Comment
Reuters reported that First Quantum Minerals is close to securing about USD 1 billion in financing to expand its Zambian copper operations. The miner has an 80% stake in the Kansanshi mine in Zambia and also produces copper and gold from the Guelb Moghrein mine in Mauritania. Kansanshi produced about 230,000 tonnes of copper and [...]
Sep
11
South Korea buys 2000 tonnes of copper at higher premium
September 11, 2011 | Leave a Comment
Bloomberg reported that South Korea bought 2,000 tonnes of copper cathodes at a higher premium than its purchase in May. Bae Cheol Gyu Agency official said that the Public Procurement Service which stockpiles strategic commodities bought the grade A copper with more than 99.99% of purity from LS Nikko Copper Inc at USD 93 per [...]