Copper Drops to Three-Month Low on Demand Outlook: LME Preview

Copper declined to the lowest level in three months after the cost of insuring against a Spanish default climbed and China’s economy grew less than expected in the first quarter, spurring demand concerns. Market News: Metals News: Metal Prices: – Copper fell 1.2 percent to $7,894.75 a metric ton by 7:57 a.m. on the London [...]

Anglo Says Meeting Copper Target a Challenge After Chile Rains

Anglo American Plc (AAL) and Xstrata Plc (XTA) will struggle to meet their annual production target at the Collahuasi copper mine, the world’s third-largest, after heavier-than-usual seasonal rains in northern Chile . Collahuasi was disrupted for 18 to 20 days in the first quarter, John MacKenzie, head of Anglo’s copper unit, said in an April [...]

Ivanhoe Defers Australian Copper Mine to Focus on Molybdenum

Ivanhoe Australia Ltd. (IVA), a unit of billionaire Robert Friedland’s Ivanhoe Mines Ltd., will defer a copper development in Queensland to focus on other projects including the Merlin molybdenum deposit in the state. The outcome of a pre-feasibility study on the Mount Dore copper cathode project showed further analysis is required, while the estimated capital [...]

Top Analysts See Copper Rising Even as China Slows: Commodities

The third consecutive annual copper shortage and accelerating U.S. growth will drive prices to the highest in a year in the next quarter, according to the most accurate forecasters. Global supply will fall 323,000 metric tons short of demand in 2012, more than Europe consumes in a month, Barclays Capital estimates. Hedge funds, which were [...]

Kagara Falls to Record After Copper Mine Halted: Sydney Mover

Kagara Ltd. (KZL), an Australian base- metal mining company, tumbled to its lowest on record in Sydney trading after suspending a mine in the northeastern state of Queensland to cut costs. The stock fell 14 percent to 12 Australian cents today, the lowest close since the Perth-based company went public in December 1999. Kagara, which [...]

Copper Rises as Chinese Car Sales, Japanese Orders Top Estimates

Copper rose in London, rebounding from this year’s biggest drop, as car sales in China and Japanese machinery orders exceeded analysts’ estimates. Passenger-car sales rose 4.5 percent in March, figures from a Chinese industry group showed today. Analysts surveyed by Bloomberg News predicted a 3.9 percent increase. Japanese bookings climbed 4.8 percent, according to a [...]

Copper Extends Slide to Lowest Since January as Demand May Slow

Copper fell in New York to the lowest price since mid-January as signs of a worsening debt crisis in Europe and slowing growth in China fueled concern that demand for the metal will stall. Rising bond yields and missed deficit targets in Spain signaled that the region’s fiscal crisis may escalate. Today’s drop for copper [...]

Copper Rebounds on Japan Machinery Orders: LME Preview

Copper rallied from the lowest level in 12 weeks as Japan’s machinery orders exceeded economists’ estimates in February, signaling gains in capital spending. Market News: Metals News: Metal Prices: – Copper rose 0.7 percent to $8,082 a metric ton by 8:22 a.m. on the London Metal Exchange. Relative Strength Index 39. – Aluminum jumped 0.9 [...]

Copper Advances O.5% to $8,071 a Ton on London Metal Exchange

Copper for three-month delivery rose 0.5 percent to $8,071 a metric ton on the London Metal Exchange.

Peru Frees Nine Copper Miners Trapped Since April 5

Peruvian rescue workers today freed nine copper miners trapped since April 5. President Ollanta Humala greeted the miners, who were unhurt, at the Cabeza de Negro mine south of Lima in a broadcast by Peruvian television Canal N.