Copper Industry News

Copper reserves at China's Sicomines in Congo less than hoped
Fri, 24 May 2013 16:31:28 +0100
KINSHASA (Reuters) - Copper reserves at a mine owned by Sicomines, a miner at the centre of a $6 billion resources for infrastructure deal between China and Democratic Republic of Congo, have fallen more than 30 percent short of expectations, a senior Congolese official said. Congo agreed in 2008 to cede mining rights to Sicomines, a joint venture between China's Sinohydro, the China Railway ...


Disruptions tighten copper supply, surplus narrows
Fri, 24 May 2013 14:10:55 +0100
A series of copper mine shutdowns and supply logjams has prompted some analysts to scale down forecasts for a market surplus, but it would take more disruptions to swing the market into a deficit. "People ...


Copper steady as investors ponder US, Chinese data
Fri, 24 May 2013 13:09:08 +0100
LONDON: Copper was little changed on Friday as investors weighed the potential impact on metals demand of Thursday's data providing a more upbeat US jobs picture but also showing slower industrial activity in top metals consumer China.


Copper Remains In A Pensive Mood
Fri, 24 May 2013 12:51:38 +0100
Slowdown of inventories in China and LME didn't bring any material impact on the prices. A consolidation and quite trade continued in Copper across major exchanges. Other base metals also remained in a pensive mood ahead of the week.


Copper rises marginally on spot demand, global cues
Fri, 24 May 2013 09:58:18 +0100
Copper prices traded higher by 0.11% to Rs 408.90 per kg in futures trade today on increased buying by speculators driven by firm global trend and pick up in demand in the spot market.


Copper Declines Sharply On MCX Even As INR Crosses 55
Fri, 24 May 2013 05:51:27 +0100
This has been quite surprising and one can very well judge the pace at which Copper contract showed a correction. The Indian Copper prices declined by Rs 8 per kg even after Rupee crossed 55 mark against the Dollar and was down by 0.2 percent on Friday.


Copper Prices Hurting Chiles Economy
Fri, 24 May 2013 05:00:00 +0100
In early May, Dennis Gartman, editor of The Gartman Letter, told CNBCs Fast Money that he believes Dr. Copper is sick since then, the metal has not been able to shake that diagnosis. As the bellwether for the economy, copper hasnt been ...


Copper Climbs Amid Mine-Supply Concern, Falling Stockpiles
Fri, 24 May 2013 04:16:58 +0100
Copper was set for a weekly gain amid concerns that an accident at the worlds second-biggest mine may curb supply as the U.S. economy shows signs of a recovery.


China's Jinchuan shuts 200,000 T copper plant on scrap shortage
Thu, 23 May 2013 23:06:00 +0100
HONG KONG, May 24 (Reuters) - Jinchuan Group Ltd, China's third-largest copper producer, has shut a 200,000 tonne-a-year facility due to a raw scrap shortage, which could reduce its refined copper output by more than 16 percent this year, an ...


Copper Hits One-Week Low as Chinese Manufacturing Disappoints
Thu, 23 May 2013 19:51:08 +0100
Copper futures slipped on Thursday, pulling back from the previous day's near-six-week high as weaker Chinese manufacturing data hit the demand outlook for the metal.


Commodities-oil Cuts Loss, Shadowing Wall St Rebound; Copper Down
Thu, 23 May 2013 15:35:00 +0100
The Thomson Reuters-Jefferies CRB index, a bellwether for commodity prices, settled little changed after slipping to a near week-low on Wednesday. Wheat and arabica coffee led gains on the 19-commodity CRB, rising about 2 percent. Cocoa and ...


Copper Slumps on Weak Chinese Manufacturing, Fed Worries
Thu, 23 May 2013 15:07:10 +0100
Copper futures retreated Thursday on worries about demand after data showed the manufacturing sector in top consumer China shrank this month.


Copper Falls Most in Three Weeks as China Manufacturing Shrinks
Thu, 23 May 2013 12:39:00 +0100
Copper fell the most in three weeks in New York after manufacturing shrank for the first time in seven months in China, the worlds biggest user of the metal. A Purchasing Managers Index from HSBC Holdings Plc and Markit Economics showed a ...


Metals-copper Hit By China Factory Data;mine Closure Limits Loss
Thu, 23 May 2013 04:33:00 +0100
HSBC China flash PMI falls to seven-month low of 49.6 * Worries of early end to bond buying also hurt sentiment * Coming Up; U.S. jobless claims ... 2.2 percent to $21,000 a tonne. Metal Prices at 1000 GMT Comex copper in cents/lb, LME prices ...


ETF Securities: The Turning Point for Copper
Thu, 23 May 2013 00:09:01 +0100
Over the past month, copper prices have reached the lowest level in 18 months, dipping below US$7000 per tonne, as concerns over the robustness of Chinese growth have weighed on the outlook for demand. ...