QUOTE AND NEWS
Canada.com  10 hrs ago  Comment 
Taseko Mines Ltd. claims the federal government acted unlawfully in pushing its British Columbia copper project off the rails. Its solution: Try to sue the government and find out precisely what happened
Resource Investor  12 hrs ago  Comment 
The all-powerful U.S. dollar is currently hammering base metals and base metal equities.
Bloomberg  Oct 21  Comment 
Codelco Puts Faith in China to Resolve Qingdao Case Codelco, the world’s biggest copper producer, said it expects China to emerge from the Qingdao port scandal with better...
The Hindu Business Line  Oct 21  Comment 
London copper edged up on Tuesday as hopes grew of more stimulus measures from China after the top consumer of the metal reported a slowing of third-quarter economic growth to its weakest since th...




 


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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