Copper – Speculation that the US Federal Reserve will loosen its monetary policy helped copper rally to a new high on Monday. Shanghai copper touched a 27-month peak, with copper for January delivery reaching its highest intraday level since July 2008.
Copper Investing News reports copper futures fell to a low dating back in July 2005. London Metal Exchange (LME) warehouse stocks fell to 292,775 tonnes, a drop of 250 tonnes. Inventories are still running about 50 per cent above September at their highest levels since January 2004. Indian copper futures traded steady with a downside bias [...]
Uranium Investing News and U308.biz report rebounding of uranium prices recently shows proof of bull is back in the uranium industry. Sure, many miners remain in trouble, but hopes of continued spot gains run high, bringing with them opportunities. Spot uranium prices climbed US$2 to US$55 a pound this week, according to price publisher Tradetech. [...]
Copper Investing News reports copper prices have been low with the slow global economic recovery. On Wednesday, U.S. copper futures for December delivery HGZ8 fell as far as $1.6210 a lb on the New York Mercantile Exchange’s COMEX division, $0.55 below its record October low of $1.6265.To some analysts, the market’s intraday low was indicative [...]
Iron Investing News reports the EU issued objections to BHP Billiton’s hostile takeover of Rio Tinto. Europe’s steel manufacturers brought their worries to the EU Competition Commissioner in May. The steel industry fears that such a deal could create inflated raw material prices. BHP first made the bid of 3.4 BHP shares for every Rio Tinto [...]
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