|
|
Home | Submit Press Release | Advertise | Submit Website
(EMAILWIRE.COM, March 21, 2013 ) San Francisco, CA -- After what could be considered a brutal February that saw the price of copper tumble by more than 7%, the metal is now beginning to build back up to around $3.50 per pound.
At the current levels, the price of copper is still above the marginalized cost of most producers, which are now in the $6,000 to 7,000 per-ton range.
Copper has remained at the lofty levels thanks in most part to the static supply within the global markets that have persisted for a number of years. In 2012, copper production only rose 2% within the top 10 companies, as the 9.14 million tons in 2011 fell reached 9.31 million tons. Still, a variety of new mines have now come into production this year, and the International Copper Study Group now predicts that a 6.4% rise in mine output will be enjoyed.
After the struggles of 2012 seen by the number-one producer in Chile, the country should see an increase in exports thanks to a $5 billion investment by a state-run Codelco that will expand capacity and increase the life of the existing and producing mines. Peru is also targeting gains and hopes to double its production over the next three years. The minister in charge of the country's mines expressed to a public conference that while emerging copper producers in the DRC and Zambia will add to the overall steady stream of new supplies. He expects to see a 22% and 8% increase in the two countries respectively.
South America is not the only country seeing improvement when it comes to copper, as Indonesia is expecting to see an incease of 30% production at Grasberg, which sits as one of the largest copper mines in the world. That, along with Mongolia's Oyu Tolgoi set to see gains should mean some quality market shifting in the next year.
About Dock Ladders Depot:
Dock Ladders Depot (http://www.dockladdersdepot.com/) provides individuals and businesses with the very best in ladders, whether for home or industry use. Browse the many variations on stepping ladders and find the safest and most reliable products on the market today.
DockLaddersDepot.com
Benjamin Wrights
4157669098
news@postpressrelease.com 
Source: EmailWire.com
|
|
