Nirmal Bang has come out with its report on
industrial metals. According to the research firm, a further rise is
expected in the prices of copper on account of the ongoing strike at
Chile, the highest copper mining nation.
Industrial metals prices rose yesterday, rebounding from falls the previous week, as the euro gained ground against the dollar and a strike in major producing nations raised concerns over temporary supply constraints.
Chilean state miner Codelco's unionized workers said on Monday they would conduct a 24-hour work stoppage at all units of the world's top copper miner on Tuesday for safety improvements and greater job security.
Aurubis, Europe's biggest copper smelter, will increase capacity at its two smelters in Bulgaria and Germany as the market moves into a bigger surplus, Chief Executive Peter Willbrandt said on Monday.
Chinese steel futures rose on Monday to their highest in more than a week in anticipation of improving demand in the second quarter, supporting raw material iron ore, although large steel inventories may limit gains.
Global miner Anglo American should produce 3 percent more copper this year than last in part as the promising but troubled Collahuasi mine turns the corner after a tough 2012, the company's head of copper told Reuters.
The costly port strikes that recently hit top copper producer Chile and detained an estimated 9,000 tonnes of the red metal's exports per day were an unwelcome reminder for miners of the risk of labor action during an electoral year.
Industrial metals prices are trading higher on international bourses today. We expect a further rise in the prices of copper on account of the ongoing strike at Chile, the highest copper mining nation
Industrial metals prices rose yesterday, rebounding from falls the previous week, as the euro gained ground against the dollar and a strike in major producing nations raised concerns over temporary supply constraints.
Chilean state miner Codelco's unionized workers said on Monday they would conduct a 24-hour work stoppage at all units of the world's top copper miner on Tuesday for safety improvements and greater job security.
Aurubis, Europe's biggest copper smelter, will increase capacity at its two smelters in Bulgaria and Germany as the market moves into a bigger surplus, Chief Executive Peter Willbrandt said on Monday.
Chinese steel futures rose on Monday to their highest in more than a week in anticipation of improving demand in the second quarter, supporting raw material iron ore, although large steel inventories may limit gains.
Global miner Anglo American should produce 3 percent more copper this year than last in part as the promising but troubled Collahuasi mine turns the corner after a tough 2012, the company's head of copper told Reuters.
The costly port strikes that recently hit top copper producer Chile and detained an estimated 9,000 tonnes of the red metal's exports per day were an unwelcome reminder for miners of the risk of labor action during an electoral year.
Industrial metals prices are trading higher on international bourses today. We expect a further rise in the prices of copper on account of the ongoing strike at Chile, the highest copper mining nation
No comments:
Post a Comment