Miners are getting back to work. As Vale eyes a full restart of its Sudbury operations, Xstrata is keen to move ahead with its 2010 plans. Atlas Consolidated Mining is also looking at reopening its nickel mine in Southern Luzon this year, to take advantage of the recovery in nickel prices.
There is a different story [...]
Copper Investing News reports copper rallies to a week’s high despite market turmoil and the uncertainty in US dollar.
Further positive sentiment was extended as stocks fell in Asian warehouses, suggesting a pick-up of demand in China. Extra impetus to copper came as oil rose above US$106 a barrel on Monday.
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Copper Investing News reports copper began on the upside with the dollar’s decline making gains that strong though in a negative market.
As the week progressed though, copper futures ended lower as global economic growth concerns and further turmoil in financials weighed on sentiment. Copper prices were left near eight month lows.
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Copper Investing News reports copper prices remained stable despite the catastrophe with Lehman Brothers.
Although Wall Street plunged on Lehman’s demise, this huge development failed to shake LME copper. Copper for delivery in three months advanced US$211, or 3 per cent, to US$7141 a tonne near closing on the Exchange, and is headed for a 3.5 per cent [...]
Copper Investing News reports with lack of demand and a high dollar, copper remains at ease.
The benchmark August copper on the Multi Commodity Exchange of India was down 0.79 per cent at Rs 331.65 per kg. Copper for delivery in three months on the London Metal Exchange fell to US$7,585 per tonne in official rings [...]
Tuesday, February 16, 2010
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