Feb

2

Copper prices set to plunge…

February 2, 2010 | 1 Comment

Copper prices, which more than doubled last year, are set to plunge as speculators unwind positions and global inventories expand, according to David Threlkeld, the president of metals trader Resolved. “We’re going to see a catastrophe in the market,” Threlkeld said yesterday. Prices might slump to less than $1 (R7.55) a pound, equivalent to $2 [...]

Feb

2

Peru’s Southern Copper sees strong prices in 2010..

February 2, 2010 | 3 Comments

* Company sees 2010 copper prices at $3.25/lb * Puts 2010 copper estimate at 500,000 tonnes * Says to produce 18,500 tonnes of molybdenum this year * Still no restart date for strike-hit Cananea LIMA, Feb 2 – Southern Copper Corp, one of the world’s largest copper producers, said on Tuesday it sees average copper [...]

Feb

2

METALS-Copper gains on funds, China concerns persist..

February 2, 2010 | Leave a Comment

LONDON, Feb 2  - Copper rose on Tuesday, reversing earlier losses, as fund buying helped offset worries over rising inventories and further monetary tightening in China. But investors were cautious ahead the Lunar New Year holiday, which starts on Feb. 14, and will keep Chinese markets shut for a week. Many of China’s factories also [...]

Jan

28

Potash Corp earnings down 69%..

January 28, 2010 | Leave a Comment

TORONTO – Fertiliser product producer Potash Corporation of Saskatchewan earned $243,6-million in the fourth quarter of 2009, 69% lower than net profit of $788-million reported a year earlier, as the global economic downturn continued to weigh on sales volumes and prices. For the full year, the company posted net income of $987,8-million, compared with $3,5-billion [...]

Jan

4

China aluminum demand to shoot up by 15pct …

January 4, 2010 | Leave a Comment

Aluminum demand in China is expected to grow by 15% in 2010 on the back of revival in construction and auto segments. According to reports, long term prospect of aluminum is bright as China is still in the middle of completing urbanization and its metal intensive growth is likely to continue for many years to [...]

Jan

4

Copper at 16-month high on investor cash, strikes..

January 4, 2010 | Leave a Comment

* Index re-weighting to still have positive impact   * Copper inventories rise to highest since April   (Recasts, adds comments/details, changes dateline from SHANGHAI)   By Michael Taylor   LONDON, Jan 4  – Copper rose almost 2 percent to a 16-month high on Monday, building on gains of about 140 percent last year, on [...]

Jan

4

DJ Strike Begins At Chile Codelco Chuquicamata Copper Mine..

January 4, 2010 | Leave a Comment

Nearly 6,000 workers at Corporacion Nacional del Cobre de Chile’s Chuquicamata copper mining complex went on strike early Monday morning after rejecting the company’s wage and benefits proposal last week. Codelco, as the miner is known, has said it has enough copper inventories to meet its January copper deliveries.

Jan

3

Is Copper The New Precious Metal..

January 3, 2010 | Leave a Comment

Copper soared this week in London and New York, striking a new 16-month high, and headed for the biggest annual gain (140%) in more than two decades, as traders fretted about possible strikes at Codelco’s giant Chuquicamata mine may disrupt supplies from key producer – Chile. (Fig. 1) Defying the Dollar The dollar remained strong [...]

Dec

28

LME Copper Inventory 28 Dec 2009

December 28, 2009 | Leave a Comment

LME Inventories data has not relesed to day Due to Boxing day Holiday….

Dec

28

METALS-Shanghai copper up 1.7 pct; hits new 16-month high

December 28, 2009 | Leave a Comment

SINGAPORE, Dec 28 – Shanghai copper rose to a fresh 16-month high on Monday, extending a Christmas Day rally, after an 8 percent fall in exchange stocks and threats to supply from Chile, boosting zinc and aluminium in its wake. FUNDAMENTALS * Benchmark third-month Shanghai copper SCFc3 rose 950 yuan or 1.7 percent to 58,580 yuan [...]

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