QUOTE AND NEWS
Reuters  Jul 25  Comment 
Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session on Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices.
TheStreet.com  Jul 24  Comment 
NEW YORK (TheStreet) -- Shares of Freeport-McMoRan  were plummeting, sharply down 9.16% to $12.39 in afternoon trading Friday, as copper prices decline to trade in negative territory. Copper for September delivery was down 0.1% to $2.38 as...
Financial Times  Jul 24  Comment 
Index of raw materials prices at lowest level since 2009
SeekingAlpha  Jul 24  Comment 
Financial Times  Jul 23  Comment 
Copper miners lead FTSE 100 to third straight decline
Wall Street Journal  Jul 23  Comment 
Miner reported a 21% drop in second-quarter earnings, hurt by a continued slump in prices for steelmaking coal and copper.
Benzinga  Jul 23  Comment 
Goldman Sachs analyst Eugene King penned a report this week that focused on the firm’s updated outlook for copper and copper-exposed stocks. Goldman sees both supply and demand pressures continuing to weigh on copper prices throughout 2016, and...
Clusterstock  Jul 23  Comment 
Copper is at a six-year low. On Thursday, copper fell nearly 2% to as low as $2.385 a pound, the weakest level since 2009. This is part of a big sell off in commodities. Iron-ore prices have plunged, crude oil is trading below $50 per...
The Australian  Jul 22  Comment 
Newcrest Mining has smashed forecasts for its June quarter gold production, but seen full-year copper output come in at the lower end.




 


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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