(Bloomberg) — The price of copper — used in everything from computer chips and toasters to power systems and air conditioners — has fallen by nearly a third since March. Investors are selling on fears that a global recession will stunt demand for a metal that’s synonymous with growth and expansion. You wouldn’t know it […]
Read More(Bloomberg) — A group of Chinese companies are investigating why a commodities storage site in northern China is holding only one third of the copper concentrate they were financing, according to people familiar with the situation. Traders from more than a dozen mostly state-owned firms gathered in Qinhuangdao city this week after becoming aware of […]
Read More(Bloomberg) — Vale SA’s plan to turn around its copper and nickel-mining unit is taking longer than expected, risking a delay to a possible sale or spinoff of a group the miner says could be worth $40 billion. The world’s second-largest iron producer slashed its annual goal for copper output by 19% as it grapples […]
Read More(Bloomberg) — Freeport-McMoRan Inc. and Goldman Sachs Group Inc. share a bullish outlook for copper. They appear to diverge, however, on how much of an impact higher prices would have on supply growth. Goldman analyst Nicholas Snowdon told a copper conference Wednesday that current near-record prices need to go much higher in order to stimulate […]
Read MoreCopper exchange-traded funds (ETFs) are designed to track the price of copper, an industrial metal used in a wide variety of applications in manufacturing, electronics, and construction. Copper is considered a cyclical commodity whose price fluctuates in tandem with economic cycles, rising when the economy grows and falling when the economy slows. Due to its […]
Read MoreFreeport-McMoRan Inc. (FCX) hit a 6-month low and turned higher in September after the Copper futures contract carved a potential double bottom at the 50-week moving average. Two upgrades have followed that turnaround, raising odds the copper-levered blue chip miner has finally ended a healthy correction and will now test May’s 9-year high in the […]
Read More(Bloomberg) — The global energy crisis is casting a pall over copper, as investors who are bullish on its long-term prospects fret that power shortages and factory slowdowns could trigger a retreat in the near term. As a reliable gauge of economic health, copper is fast becoming a canary in the coal mine for analysts […]
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