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Archive for the 'Commodity Prices - Copper' Category

UBS Slashes 2009 Commodity Forecasts By Average 37%

Dow Jones Newswires, 21:27 ET (01:27 GMT) 30-Oct-2008
By Elisabeth Behrmann Of DOW JONES NEWSWIRES
SYDNEY (Dow Jones)–UBS has slashed its 2009 commodity prices forecasts by an average of 37%, in line with cutting expectations for global growth to slow to 1.3% next year, from an earlier forecast of 2.2%.
That prompted considerable cuts to commodity forecasts for […]

Citigroup Says Severe Recession to Curb Demand for Commodities

Bloomberg, 14:28:56.440 GMT 27-Oct-2008
By Millie Munshi
Oct. 27 (Bloomberg) — The prospect of a “severe” recession has increased concern that demand will wane for industrial commodities, Citigroup Inc. said.
Copper and aluminum prices will slide into a “trough cycle” in 2009 as a drop in consumption creates a surplus of metals used in homes, appliances and automobiles, […]

Peru unions say ready for nationwide mining strike

Reuters, 11:22pm IST 06-May-2008
LIMA, May 6 (Reuters) - Unions at mines throughout Peru are ready to strike next week to demand better labor benefits, the head of the country’s biggest federation of mining unions and local union bosses said on Tuesday.
“We have 33 unions supporting us,” said Luis Castillo, the federation’s leader. “We will go […]

Commodity Prices - May 5, 2008

Gold N.Y. Spot $ 0867.10
Silver N.Y. Spot $ 16.70
Lead LME Cash $ 1.1453
Copper LME Cash $ 3.8052
Zinc LME Cash $ 0.9730
Nickel LME Spot $ 12.52
Aluminum LME Spot $ 1.2769
Platinum N.Y. Spot […]

Copper Due For Super-Spike As Bulk Commodities Boom

Dow Jones Newswires, 19:36 ET (23:36 GMT) 09-Apr-2008
By Elisabeth Behrmann Of DOW JONES NEWSWIRES
SYDNEY (Dow Jones)–Soaring prices for bulk commodities could mean that the copper market is due another leg-up, with some forecasting a “super-spike” in the metal to a record $11,000 a metric ton.
Market bulls argue that the recent hikes in contract prices for […]

Copper Demand Will Grow at 4% for a Decade, Rio Says

Bloomberg, 01:28 (New York) 09-Apr-2008
By Rebecca Keenan
April 9 (Bloomberg) — Rio Tinto Group, the world’s third- largest mining company, said global demand for copper will grow 4 percent a year for a decade or more led by sales to China.
“That 4 percent growth can be sustained for at least a decade or even a generation,” […]

China Copper Ore Imports to Rise 20%, Trafigura Says

Bloomberg, 04:14 (New York) 09-Apr-2008
By Jae Hur
April 9 (Bloomberg) — China, the world’s biggest copper consumer, may increase imports of ore used to make the metal by 20 percent to a record this year, said Trafigura Beheer BV, the country’s top supplier.
Purchases of so-called concentrate, or processed ore containing copper, may rise to 5.4 million […]

Refined copper market swung into deficit in 2007 - ICSG

Metal Bulletin, 12:54 28-Mar-2008
London — The refined copper market was in a 40,000-tonne deficit in 2007 compared with a surplus of 290,000 tonnes a year earlier, according to the March report by the International Copper Study Group (ICSG).
The deficit of some 300,000 tonnes in the first half of last year was mostly offset by a […]

Time To Leave The Party? (Commodities Corner)

Barron’s 24-Mar-2008
By Andrea Hotter
It’s official. Commodity prices are no longer a safe one-way bet. Their resilience is waning as risk aversion takes the driver’s seat. Their saving grace? Investors are saying they’re still reluctant to be caught short.
Commodities prices have been in a tailspin as market participants began adopting the view that a fire sale […]

Copper theft wreaking havoc

Business Spectator (Australia), 1:18PM 29-Feb-2008
by AAP
A wave of copper thefts sweeping Australia and the United States is causing havoc as essential services are put at risk.
The surging demand for copper in India and China has pushed the price of scrap copper to $7,500 per tonne in Australia, authorities say, making it a target for increasingly-bold […]