Thompson Creek Metals Co Inc
New Greek Deal Boosts Copper Prices +1% on London Metal Exchange
On July 13, copper for immediate delivery was quoted at $5,606 per metric ton on the London Metal Exchange. Copper prices rose by roughly 1% on a possible Greek-debt deal.
Copper Consumption Fell on Weak Chinese Demand
Global apparent consumption fell 1.5% in the first three months of 2015. This was largely due to a 40% fall in Russia’s apparent copper consumption.
Copper Prices Lose 2.5% in May as Commodities Pare Gains
With its mammoth copper consumption, China has been the key driver of copper prices in recent years. Lower copper prices negatively impact copper producers.
Will Chinese Copper Demand Pick Up in the Coming Months?
China’s real estate sector is a key driver of global copper demand. The current slowdown in Chinese construction activity will negatively impact future copper demand.
US Dollar Correction: Why It’s Positive for Copper Producers
US-based copper producers have another reason to celebrate when the US dollar weakens. Their overseas revenue increases when the US dollar weakens.
China’s Refined Copper Production Increased 4% in April
China produced 607 thousand tonnes of refined copper in April. Although the copper production in April increased on a YoY basis, it declined compared to March.
China’s Real Estate Climate Index Drifted Lower in April
The decline in China’s real estate climate index is another indicator that construction activity slowed down in China. The index has been on an downward trend.
Strong US Copper Demand to Benefit Thompson Creek Metals
Higher vehicle sales bode well for the US copper demand. Copper content in an average mid-sized vehicle is around 50 pounds.
Is Doctor Copper Healing the Economy?
Analysts see copper prices as a reflection of the health of the global economy. For that reason, copper has been dubbed Doctor Copper.