-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Copper miners are set for their worst quarter
since 2008 after the coronavirus pandemic heightened demand concerns for industrial metals and forced companies to curb mining operations.
BI's Global Copper Competitive Peer Index has fallen 37 percent in the quarter, led by Teck Resources, Hudbay Minerals and Freeport-McMoRan, all down more than 50 percent
so far this year.
Daniel Briesemann, an analyst at Commerzbank AG, said the miners were "hit on two fronts, operations and supply chains, unprecedented disruption and fears of a global recession
.
" Even though China's rework rate has increased considerably, there is hardly any demand
in the world.
”
Miners, including Peru and Chile, the largest copper producers, have been forced to halt or cut production and processing
.
Andrew Cosgrove, an analyst at Bloomberg Intelligence, said at least 17 percent of global copper supply is at risk
of shutdown.
Fortune 500 Caterpillar provided more evidence that global industrial activity was collapsing last week, when U.
S.
manufacturing said it would suspend some operations
.
At 3:16 pm on the 30th, three-month copper on the London Metal Exchange fell 0.
4% to $
4,771.
50 per tonne.
The copper market is heading for its worst quarter
since September 2011.
Still, falling prices may provide investors with buying opportunities
.
UBS GROUP AG ADVISED INVESTORS TO BUY COPPER PRODUCERS IN THE AMERICAS BECAUSE THE COMPANY BELIEVES COPPER PRICES WILL FALL BY A QUARTER
AFTER SIX QUARTERS OF STRONG GROWTH.
Analyst Andreas Bokkenheuser recommends buying Freeport, Southern Copper Corp.
and Grupo Mexico
.
Copper miners are set for their worst quarter
since 2008 after the coronavirus pandemic heightened demand concerns for industrial metals and forced companies to curb mining operations.
BI's Global Copper Competitive Peer Index has fallen 37 percent in the quarter, led by Teck Resources, Hudbay Minerals and Freeport-McMoRan, all down more than 50 percent
so far this year.
Daniel Briesemann, an analyst at Commerzbank AG, said the miners were "hit on two fronts, operations and supply chains, unprecedented disruption and fears of a global recession
.
" Even though China's rework rate has increased considerably, there is hardly any demand
in the world.
”
Miners, including Peru and Chile, the largest copper producers, have been forced to halt or cut production and processing
.
Andrew Cosgrove, an analyst at Bloomberg Intelligence, said at least 17 percent of global copper supply is at risk
of shutdown.
Fortune 500 Caterpillar provided more evidence that global industrial activity was collapsing last week, when U.
S.
manufacturing said it would suspend some operations
.
At 3:16 pm on the 30th, three-month copper on the London Metal Exchange fell 0.
4% to $
4,771.
50 per tonne.
The copper market is heading for its worst quarter
since September 2011.
Still, falling prices may provide investors with buying opportunities
.
UBS GROUP AG ADVISED INVESTORS TO BUY COPPER PRODUCERS IN THE AMERICAS BECAUSE THE COMPANY BELIEVES COPPER PRICES WILL FALL BY A QUARTER
AFTER SIX QUARTERS OF STRONG GROWTH.
Analyst Andreas Bokkenheuser recommends buying Freeport, Southern Copper Corp.
and Grupo Mexico
.
