QUOTE AND NEWS
Wall Street Journal  2 hrs ago  Comment 
Carl Icahn has taken a stake in Freeport-McMoRan, the copper miner which has recently been a hive of activity in terms of cutting costs and addressing concerns about its balance sheet.
The Australian  Aug 27  Comment 
Copper futures have been boosted by a Chinese market rally which lifted commodities across the board.
CNNMoney.com  Aug 27  Comment 
China's insatiable appetite for metals like copper is falling off a cliff. It's destroying prices of raw materials.
newratings.com  Aug 27  Comment 
PHOENIX (dpa-AFX) - Freeport-McMoRan Inc. (FCX) announced it has revised capital and operating plans in response to the recent decline in copper prices resulting in reduced capital expenditures, lower production levels and lower operating,...
TheStreet.com  Aug 26  Comment 
NEW YORK (TheStreet) -- Shares of Freeport-McMoRan   are sliding by 3.09% to $7.99 in afternoon trading on Wednesday, as copper prices fall on concerns about China's economic well-being. Copper for September delivery is down by 2.81% to...
The Hindu Business Line  Aug 26  Comment 
 The MCX copper futures contracts stuck within the ₹326-342 a kg range for the fourth consecutive week now. The contract is currently hovering just above the lower end of this...
Reuters  Aug 26  Comment 
* Slow ramp up of waste system has hit Caserones mine -consultant
Financial Times  Aug 25  Comment 
Prospects are not as bad as the miner’s lacklustre market performance suggests
Financial Times  Aug 25  Comment 
Chilean miner reels from copper prices hitting lowest levels since financial crisis




 


Copper is a metal used extensively as a heat and electrical conductor, as well as a component in metal alloys, most notably brass and bronze. Annual world production is projected to 18.4 million metric tons in 2008.[1]

Copper is used extensively for electrical wiring and plumbing in buildings. A good overview on the use of copper can be found on the webpage of the International Wrought Copper Council (IWCC).

Copper is known to have antimicrobial properties. It is also an important nutrient. It is widely believed that copper jewelry can help wearer conquer diseases.

The chart at left shows continuos front-month futures prices for High Grade Copper traded on the COMEX.

Prices and Delivery Dates

High Grade Copper futures contracts are traded on the COMEX under ticker symbol HG and are delivered every month of the year. (For more information on commodity tickers, check out the commodity ticker construction page.)

Copper Producers

The four largest copper producers are[2]

Key Trends and Forces

Global Economic Downturn

The usage of copper may be significantly reduced in the current downturn.

Emerging Economies

Improving living conditions and expansion of infrastructure require electrification of houses, manufacturing facilities, and offices. Further copper is required in electrical powerplants, transformation and transport of the energy and for the extension of public transport.

New Electrification Wave

Improved comfort functions and hybrid powertrains require increased amounts of copper to be build into vehicles. Plugin hybrids are going to increase the demand for electric power from the grid. The use of solar panels on buildings increases copper usage in the building sector.

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References

  1. International Copper Study Group - Forecast 2008/2009, October 2008
  2. Freeport McMoRan Presentation, November 2008
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